{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\chance\Desktop\0707\0707run.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res} 7 Jul 2025, 16:03:30

{com}. summarize LGQ pftz mkt rtl tal open urban inds gdpd dig

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 9}LGQ {c |}{res}        510    .5017552     .082722    .298106   .7615725
{txt}{space 8}pftz {c |}{res}        510    .1352941    .3423733          0          1
{txt}{space 9}mkt {c |}{res}        510    7.804202    2.019868      -.247     10.609
{txt}{space 9}rtl {c |}{res}        510    5.787939    6.606837   1.171808   65.70943
{txt}{space 9}tal {c |}{res}        510    11.20784     5.26283          3         34
{txt}{hline 13}{c +}{hline 57}
{space 8}open {c |}{res}        510    .1506565    .1816636   .0041917   .9928917
{txt}{space 7}urban {c |}{res}        510    .4390358    .0969392   .2861505   .8386824
{txt}{space 8}inds {c |}{res}        510    1.110288     .727335      .4971     9.7871
{txt}{space 8}gdpd {c |}{res}        510    6.668202    1.653121     1.8669    11.0256
{txt}{space 9}dig {c |}{res}        510    .7845035    .3408921   .1304816   1.894238

{com}. xtreg  f1.LGQ pftz  ,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.2377{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.3972{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.2153{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}1{txt}, {res}449{txt}){col 67}={col 70}{res}   139.98
{txt}corr(u_i, Xb) = {res}0.2040{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2} .0835446{col 26}{space 2} .0070614{col 37}{space 1}   11.83{col 46}{space 3}0.000{col 54}{space 4} .0696671{col 67}{space 3} .0974221
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4974309{col 26}{space 2} .0021405{col 37}{space 1}  232.39{col 46}{space 3}0.000{col 54}{space 4} .4932242{col 67}{space 3} .5016376
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .06107507
     {txt}sigma_e {c |} {res} .04392138
         {txt}rho {c |} {res} .65912676{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}449{txt}) = {res}29.65{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto a1

. 
. xtreg  f1.LGQ pftz i.year ,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9319{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.3972{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.3385{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}16{txt}, {res}434{txt}){col 67}={col 70}{res}   371.38
{txt}corr(u_i, Xb) = {res}0.0101{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2} .0063713{col 26}{space 2} .0027631{col 37}{space 1}    2.31{col 46}{space 3}0.022{col 54}{space 4} .0009405{col 67}{space 3} .0118021
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0109209{col 26}{space 2} .0034467{col 37}{space 1}    3.17{col 46}{space 3}0.002{col 54}{space 4} .0041466{col 67}{space 3} .0176952
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0161882{col 26}{space 2} .0034467{col 37}{space 1}    4.70{col 46}{space 3}0.000{col 54}{space 4} .0094139{col 67}{space 3} .0229625
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .0241349{col 26}{space 2} .0034467{col 37}{space 1}    7.00{col 46}{space 3}0.000{col 54}{space 4} .0173607{col 67}{space 3} .0309092
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0329319{col 26}{space 2} .0034467{col 37}{space 1}    9.55{col 46}{space 3}0.000{col 54}{space 4} .0261576{col 67}{space 3} .0397062
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0439769{col 26}{space 2} .0034467{col 37}{space 1}   12.76{col 46}{space 3}0.000{col 54}{space 4} .0372026{col 67}{space 3} .0507512
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0516105{col 26}{space 2} .0034467{col 37}{space 1}   14.97{col 46}{space 3}0.000{col 54}{space 4} .0448362{col 67}{space 3} .0583847
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0650569{col 26}{space 2} .0034467{col 37}{space 1}   18.88{col 46}{space 3}0.000{col 54}{space 4} .0582826{col 67}{space 3} .0718312
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0816896{col 26}{space 2} .0034467{col 37}{space 1}   23.70{col 46}{space 3}0.000{col 54}{space 4} .0749153{col 67}{space 3} .0884639
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0946712{col 26}{space 2} .0034479{col 37}{space 1}   27.46{col 46}{space 3}0.000{col 54}{space 4} .0878945{col 67}{space 3} .1014479
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .1026983{col 26}{space 2} .0034479{col 37}{space 1}   29.79{col 46}{space 3}0.000{col 54}{space 4} .0959216{col 67}{space 3}  .109475
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .1124258{col 26}{space 2} .0034663{col 37}{space 1}   32.43{col 46}{space 3}0.000{col 54}{space 4} .1056129{col 67}{space 3} .1192387
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .1170243{col 26}{space 2} .0034663{col 37}{space 1}   33.76{col 46}{space 3}0.000{col 54}{space 4} .1102115{col 67}{space 3} .1238372
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}  .126597{col 26}{space 2} .0035925{col 37}{space 1}   35.24{col 46}{space 3}0.000{col 54}{space 4} .1195361{col 67}{space 3} .1336579
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .1329179{col 26}{space 2} .0036196{col 37}{space 1}   36.72{col 46}{space 3}0.000{col 54}{space 4} .1258038{col 67}{space 3} .1400319
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}  .142537{col 26}{space 2} .0038247{col 37}{space 1}   37.27{col 46}{space 3}0.000{col 54}{space 4} .1350197{col 67}{space 3} .1500542
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .4334192{col 26}{space 2} .0024372{col 37}{space 1}  177.84{col 46}{space 3}0.000{col 54}{space 4} .4286291{col 67}{space 3} .4382094
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .06649244
     {txt}sigma_e {c |} {res} .01334899
         {txt}rho {c |} {res} .96125711{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}434{txt}) = {res}361.83{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto a2

. 
. xtreg  f1.LGQ pftz open urban inds gdpd dig ,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9297{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8778{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8876{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}6{txt}, {res}444{txt}){col 67}={col 70}{res}   978.78
{txt}corr(u_i, Xb) = {res}-0.4512{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2} .0103362{col 26}{space 2} .0026053{col 37}{space 1}    3.97{col 46}{space 3}0.000{col 54}{space 4} .0052158{col 67}{space 3} .0154565
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0308879{col 26}{space 2} .0110605{col 37}{space 1}   -2.79{col 46}{space 3}0.005{col 54}{space 4}-.0526253{col 67}{space 3}-.0091504
{txt}{space 7}urban {c |}{col 14}{res}{space 2} .1006056{col 26}{space 2} .0192214{col 37}{space 1}    5.23{col 46}{space 3}0.000{col 54}{space 4} .0628294{col 67}{space 3} .1383818
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0022576{col 26}{space 2} .0015079{col 37}{space 1}    1.50{col 46}{space 3}0.135{col 54}{space 4}-.0007059{col 67}{space 3} .0052211
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0434584{col 26}{space 2} .0035959{col 37}{space 1}   12.09{col 46}{space 3}0.000{col 54}{space 4} .0363913{col 67}{space 3} .0505255
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0547256{col 26}{space 2} .0083934{col 37}{space 1}    6.52{col 46}{space 3}0.000{col 54}{space 4} .0382299{col 67}{space 3} .0712213
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .1344647{col 26}{space 2} .0207367{col 37}{space 1}    6.48{col 46}{space 3}0.000{col 54}{space 4} .0937103{col 67}{space 3}  .175219
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02760842
     {txt}sigma_e {c |} {res} .01341161
         {txt}rho {c |} {res} .80907319{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}444{txt}) = {res}35.28{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto a3

. 
. xtreg  f1.LGQ pftz open urban inds gdpd dig  i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9420{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8495{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8821{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}21{txt}, {res}429{txt}){col 67}={col 70}{res}   331.79
{txt}corr(u_i, Xb) = {res}0.0054{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2} .0047073{col 26}{space 2} .0027081{col 37}{space 1}    1.74{col 46}{space 3}0.083{col 54}{space 4}-.0006155{col 67}{space 3}   .01003
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0433464{col 26}{space 2} .0109611{col 37}{space 1}   -3.95{col 46}{space 3}0.000{col 54}{space 4}-.0648906{col 67}{space 3}-.0218022
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0077712{col 26}{space 2} .0259134{col 37}{space 1}   -0.30{col 46}{space 3}0.764{col 54}{space 4}-.0587044{col 67}{space 3} .0431619
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0016622{col 26}{space 2} .0014202{col 37}{space 1}    1.17{col 46}{space 3}0.242{col 54}{space 4}-.0011293{col 67}{space 3} .0044537
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0403072{col 26}{space 2} .0062451{col 37}{space 1}    6.45{col 46}{space 3}0.000{col 54}{space 4} .0280323{col 67}{space 3} .0525821
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0255661{col 26}{space 2} .0101729{col 37}{space 1}    2.51{col 46}{space 3}0.012{col 54}{space 4} .0055712{col 67}{space 3} .0455611
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0021055{col 26}{space 2} .0036324{col 37}{space 1}    0.58{col 46}{space 3}0.562{col 54}{space 4}-.0050339{col 67}{space 3}  .009245
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}   .00007{col 26}{space 2} .0041663{col 37}{space 1}    0.02{col 46}{space 3}0.987{col 54}{space 4}-.0081188{col 67}{space 3} .0082589
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0008325{col 26}{space 2} .0050154{col 37}{space 1}   -0.17{col 46}{space 3}0.868{col 54}{space 4}-.0106903{col 67}{space 3} .0090254
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0001369{col 26}{space 2} .0057148{col 37}{space 1}    0.02{col 46}{space 3}0.981{col 54}{space 4}-.0110956{col 67}{space 3} .0113693
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0019761{col 26}{space 2}  .006848{col 37}{space 1}    0.29{col 46}{space 3}0.773{col 54}{space 4}-.0114836{col 67}{space 3} .0154358
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}  .000355{col 26}{space 2} .0079066{col 37}{space 1}    0.04{col 46}{space 3}0.964{col 54}{space 4}-.0151855{col 67}{space 3} .0158955
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0035876{col 26}{space 2}  .009188{col 37}{space 1}    0.39{col 46}{space 3}0.696{col 54}{space 4}-.0144716{col 67}{space 3} .0216467
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0132168{col 26}{space 2} .0102482{col 37}{space 1}    1.29{col 46}{space 3}0.198{col 54}{space 4}-.0069261{col 67}{space 3} .0333598
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0201147{col 26}{space 2} .0110989{col 37}{space 1}    1.81{col 46}{space 3}0.071{col 54}{space 4}-.0017003{col 67}{space 3} .0419297
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0241311{col 26}{space 2} .0119863{col 37}{space 1}    2.01{col 46}{space 3}0.045{col 54}{space 4} .0005718{col 67}{space 3} .0476903
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0320987{col 26}{space 2} .0124947{col 37}{space 1}    2.57{col 46}{space 3}0.011{col 54}{space 4} .0075402{col 67}{space 3} .0566573
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0324419{col 26}{space 2} .0132446{col 37}{space 1}    2.45{col 46}{space 3}0.015{col 54}{space 4} .0064095{col 67}{space 3} .0584744
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0377585{col 26}{space 2} .0141968{col 37}{space 1}    2.66{col 46}{space 3}0.008{col 54}{space 4} .0098546{col 67}{space 3} .0656624
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}  .038027{col 26}{space 2} .0151941{col 37}{space 1}    2.50{col 46}{space 3}0.013{col 54}{space 4} .0081629{col 67}{space 3} .0678912
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0456163{col 26}{space 2} .0158965{col 37}{space 1}    2.87{col 46}{space 3}0.004{col 54}{space 4} .0143716{col 67}{space 3}  .076861
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2118966{col 26}{space 2} .0395057{col 37}{space 1}    5.36{col 46}{space 3}0.000{col 54}{space 4} .1342478{col 67}{space 3} .2895455
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02598771
     {txt}sigma_e {c |} {res} .01239399
         {txt}rho {c |} {res} .81469701{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}429{txt}) = {res}38.76{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto a4

. 
. esttab a* using a1.rtf,keep(pftz open urban inds gdpd dig  _cons) order(pftz open urban inds gdpd dig  _cons) star(* 0.1 ** 0.05 *** 0.01) b(%6.3f) se(%6.3f) nogaps r2
{res}{txt}(output written to {browse  `"a1.rtf"'})

{com}. xtreg  f1.LGQ pre5 pre4 pre3 pre2 current post1 post2 post3 post4 post5 open urban  inds  gdpd  dig  i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9443{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8701{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8961{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}30{txt}, {res}420{txt}){col 67}={col 70}{res}   237.39
{txt}corr(u_i, Xb) = {res}-0.0548{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pre5 {c |}{col 14}{res}{space 2}-.0070589{col 26}{space 2} .0034651{col 37}{space 1}   -2.04{col 46}{space 3}0.042{col 54}{space 4}  -.01387{col 67}{space 3}-.0002478
{txt}{space 8}pre4 {c |}{col 14}{res}{space 2}-.0054521{col 26}{space 2} .0041696{col 37}{space 1}   -1.31{col 46}{space 3}0.192{col 54}{space 4}-.0136479{col 67}{space 3} .0027437
{txt}{space 8}pre3 {c |}{col 14}{res}{space 2}-.0040584{col 26}{space 2} .0039671{col 37}{space 1}   -1.02{col 46}{space 3}0.307{col 54}{space 4}-.0118563{col 67}{space 3} .0037395
{txt}{space 8}pre2 {c |}{col 14}{res}{space 2}-.0016768{col 26}{space 2}  .004149{col 37}{space 1}   -0.40{col 46}{space 3}0.686{col 54}{space 4}-.0098323{col 67}{space 3} .0064786
{txt}{space 5}current {c |}{col 14}{res}{space 2} .0005733{col 26}{space 2} .0042987{col 37}{space 1}    0.13{col 46}{space 3}0.894{col 54}{space 4}-.0078765{col 67}{space 3}  .009023
{txt}{space 7}post1 {c |}{col 14}{res}{space 2} .0015619{col 26}{space 2} .0046082{col 37}{space 1}    0.34{col 46}{space 3}0.735{col 54}{space 4} -.007496{col 67}{space 3} .0106199
{txt}{space 7}post2 {c |}{col 14}{res}{space 2} .0017693{col 26}{space 2} .0051329{col 37}{space 1}    0.34{col 46}{space 3}0.730{col 54}{space 4}-.0083201{col 67}{space 3} .0118587
{txt}{space 7}post3 {c |}{col 14}{res}{space 2} .0138738{col 26}{space 2} .0075343{col 37}{space 1}    1.84{col 46}{space 3}0.066{col 54}{space 4}-.0009357{col 67}{space 3} .0286834
{txt}{space 7}post4 {c |}{col 14}{res}{space 2} .0175075{col 26}{space 2} .0078232{col 37}{space 1}    2.24{col 46}{space 3}0.026{col 54}{space 4}   .00213{col 67}{space 3} .0328849
{txt}{space 7}post5 {c |}{col 14}{res}{space 2} .0344171{col 26}{space 2} .0106641{col 37}{space 1}    3.23{col 46}{space 3}0.001{col 54}{space 4} .0134554{col 67}{space 3} .0553788
{txt}{space 8}open {c |}{col 14}{res}{space 2} -.021075{col 26}{space 2} .0123231{col 37}{space 1}   -1.71{col 46}{space 3}0.088{col 54}{space 4}-.0452976{col 67}{space 3} .0031476
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0012288{col 26}{space 2} .0258715{col 37}{space 1}   -0.05{col 46}{space 3}0.962{col 54}{space 4}-.0520826{col 67}{space 3} .0496251
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0012903{col 26}{space 2} .0014452{col 37}{space 1}    0.89{col 46}{space 3}0.372{col 54}{space 4}-.0015506{col 67}{space 3} .0041311
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2}  .040538{col 26}{space 2} .0062264{col 37}{space 1}    6.51{col 46}{space 3}0.000{col 54}{space 4} .0282991{col 67}{space 3} .0527769
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0284493{col 26}{space 2} .0103317{col 37}{space 1}    2.75{col 46}{space 3}0.006{col 54}{space 4}  .008141{col 67}{space 3} .0487577
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0017067{col 26}{space 2} .0036056{col 37}{space 1}    0.47{col 46}{space 3}0.636{col 54}{space 4}-.0053806{col 67}{space 3}  .008794
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.0007867{col 26}{space 2} .0041474{col 37}{space 1}   -0.19{col 46}{space 3}0.850{col 54}{space 4}-.0089389{col 67}{space 3} .0073655
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0019771{col 26}{space 2} .0050025{col 37}{space 1}   -0.40{col 46}{space 3}0.693{col 54}{space 4}-.0118102{col 67}{space 3} .0078559
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}  -.00065{col 26}{space 2} .0056918{col 37}{space 1}   -0.11{col 46}{space 3}0.909{col 54}{space 4}-.0118378{col 67}{space 3} .0105379
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0020216{col 26}{space 2} .0068249{col 37}{space 1}    0.30{col 46}{space 3}0.767{col 54}{space 4}-.0113937{col 67}{space 3} .0154369
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.0001426{col 26}{space 2} .0078849{col 37}{space 1}   -0.02{col 46}{space 3}0.986{col 54}{space 4}-.0156413{col 67}{space 3} .0153561
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0026116{col 26}{space 2} .0091734{col 37}{space 1}    0.28{col 46}{space 3}0.776{col 54}{space 4}  -.01542{col 67}{space 3} .0206431
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0117863{col 26}{space 2} .0102379{col 37}{space 1}    1.15{col 46}{space 3}0.250{col 54}{space 4}-.0083376{col 67}{space 3} .0319101
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0181297{col 26}{space 2} .0111215{col 37}{space 1}    1.63{col 46}{space 3}0.104{col 54}{space 4} -.003731{col 67}{space 3} .0399904
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0212683{col 26}{space 2} .0120029{col 37}{space 1}    1.77{col 46}{space 3}0.077{col 54}{space 4}-.0023248{col 67}{space 3} .0448615
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0289154{col 26}{space 2} .0125472{col 37}{space 1}    2.30{col 46}{space 3}0.022{col 54}{space 4} .0042523{col 67}{space 3} .0535786
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0279427{col 26}{space 2} .0132913{col 37}{space 1}    2.10{col 46}{space 3}0.036{col 54}{space 4} .0018171{col 67}{space 3} .0540684
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0330418{col 26}{space 2} .0142886{col 37}{space 1}    2.31{col 46}{space 3}0.021{col 54}{space 4} .0049558{col 67}{space 3} .0611278
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0306177{col 26}{space 2} .0152835{col 37}{space 1}    2.00{col 46}{space 3}0.046{col 54}{space 4} .0005761{col 67}{space 3} .0606594
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0382324{col 26}{space 2} .0160414{col 37}{space 1}    2.38{col 46}{space 3}0.018{col 54}{space 4} .0067009{col 67}{space 3} .0697639
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2081551{col 26}{space 2} .0395388{col 37}{space 1}    5.26{col 46}{space 3}0.000{col 54}{space 4} .1304364{col 67}{space 3} .2858737
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02420154
     {txt}sigma_e {c |} {res} .01227412
         {txt}rho {c |} {res}  .7954095{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}420{txt}) = {res}36.99{col 62}{txt}Prob > F = {res}0.0000

{com}. 
.  coefplot, vertical keep( pre5 pre4 pre3 pre2 current post1 post2 post3 post4 post5）omited order（pre5 pre4 pre3 pre2 current post1 post2 post3 post4 post5 ) ciopt(recast(rcap) lcolor(black)) mcolor(black)  recast(connect) xline(5)
{res}
{com}. xtreg f1.LGQ ftzp2 open urban inds gdpd dig i.year ,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9417{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8390{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8752{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}21{txt}, {res}429{txt}){col 67}={col 70}{res}   329.68
{txt}corr(u_i, Xb) = {res}0.0232{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}ftzp2 {c |}{col 14}{res}{space 2} .0014996{col 26}{space 2} .0022551{col 37}{space 1}    0.66{col 46}{space 3}0.506{col 54}{space 4}-.0029328{col 67}{space 3} .0059319
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0492992{col 26}{space 2} .0105616{col 37}{space 1}   -4.67{col 46}{space 3}0.000{col 54}{space 4}-.0700581{col 67}{space 3}-.0285402
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0080409{col 26}{space 2} .0259962{col 37}{space 1}   -0.31{col 46}{space 3}0.757{col 54}{space 4}-.0591366{col 67}{space 3} .0430548
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0013354{col 26}{space 2}  .001436{col 37}{space 1}    0.93{col 46}{space 3}0.353{col 54}{space 4} -.001487{col 67}{space 3} .0041579
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0404472{col 26}{space 2} .0062633{col 37}{space 1}    6.46{col 46}{space 3}0.000{col 54}{space 4} .0281367{col 67}{space 3} .0527578
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0234751{col 26}{space 2} .0101624{col 37}{space 1}    2.31{col 46}{space 3}0.021{col 54}{space 4} .0035007{col 67}{space 3} .0434494
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0021892{col 26}{space 2} .0036433{col 37}{space 1}    0.60{col 46}{space 3}0.548{col 54}{space 4}-.0049717{col 67}{space 3} .0093501
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0003237{col 26}{space 2} .0041777{col 37}{space 1}    0.08{col 46}{space 3}0.938{col 54}{space 4}-.0078875{col 67}{space 3}  .008535
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0004463{col 26}{space 2} .0050283{col 37}{space 1}   -0.09{col 46}{space 3}0.929{col 54}{space 4}-.0103294{col 67}{space 3} .0094368
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0003915{col 26}{space 2} .0057315{col 37}{space 1}    0.07{col 46}{space 3}0.946{col 54}{space 4}-.0108738{col 67}{space 3} .0116567
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0020536{col 26}{space 2} .0068693{col 37}{space 1}    0.30{col 46}{space 3}0.765{col 54}{space 4}-.0114481{col 67}{space 3} .0155553
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0006309{col 26}{space 2} .0079308{col 37}{space 1}    0.08{col 46}{space 3}0.937{col 54}{space 4}-.0149573{col 67}{space 3}  .016219
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0039646{col 26}{space 2} .0092145{col 37}{space 1}    0.43{col 46}{space 3}0.667{col 54}{space 4}-.0141467{col 67}{space 3} .0220759
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0137651{col 26}{space 2} .0102771{col 37}{space 1}    1.34{col 46}{space 3}0.181{col 54}{space 4}-.0064346{col 67}{space 3} .0339649
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0208441{col 26}{space 2} .0111253{col 37}{space 1}    1.87{col 46}{space 3}0.062{col 54}{space 4}-.0010228{col 67}{space 3}  .042711
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0249552{col 26}{space 2} .0120149{col 37}{space 1}    2.08{col 46}{space 3}0.038{col 54}{space 4} .0013398{col 67}{space 3} .0485706
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0331188{col 26}{space 2} .0125163{col 37}{space 1}    2.65{col 46}{space 3}0.008{col 54}{space 4} .0085179{col 67}{space 3} .0577197
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0334307{col 26}{space 2}   .01327{col 37}{space 1}    2.52{col 46}{space 3}0.012{col 54}{space 4} .0073483{col 67}{space 3} .0595131
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0400731{col 26}{space 2}  .014174{col 37}{space 1}    2.83{col 46}{space 3}0.005{col 54}{space 4} .0122139{col 67}{space 3} .0679323
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0407129{col 26}{space 2} .0151571{col 37}{space 1}    2.69{col 46}{space 3}0.008{col 54}{space 4} .0109215{col 67}{space 3} .0705043
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0495136{col 26}{space 2} .0158066{col 37}{space 1}    3.13{col 46}{space 3}0.002{col 54}{space 4} .0184457{col 67}{space 3} .0805815
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2133895{col 26}{space 2} .0396276{col 37}{space 1}    5.38{col 46}{space 3}0.000{col 54}{space 4} .1355011{col 67}{space 3} .2912778
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res}   .026888
     {txt}sigma_e {c |} {res} .01243115
         {txt}rho {c |} {res} .82389293{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}429{txt}) = {res}39.32{col 62}{txt}Prob > F = {res}0.0000

{com}. 
.   est sto f2

. 
. xtreg f1.LGQ ftzp3 open urban inds gdpd dig i.year ,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9416{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8389{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8752{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}21{txt}, {res}429{txt}){col 67}={col 70}{res}   329.56
{txt}corr(u_i, Xb) = {res}0.0223{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}ftzp3 {c |}{col 14}{res}{space 2} .0010816{col 26}{space 2} .0019934{col 37}{space 1}    0.54{col 46}{space 3}0.588{col 54}{space 4}-.0028365{col 67}{space 3} .0049997
{txt}{space 8}open {c |}{col 14}{res}{space 2} -.049364{col 26}{space 2} .0105881{col 37}{space 1}   -4.66{col 46}{space 3}0.000{col 54}{space 4} -.070175{col 67}{space 3} -.028553
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0080681{col 26}{space 2} .0260045{col 37}{space 1}   -0.31{col 46}{space 3}0.757{col 54}{space 4}-.0591801{col 67}{space 3} .0430439
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0013725{col 26}{space 2} .0014333{col 37}{space 1}    0.96{col 46}{space 3}0.339{col 54}{space 4}-.0014446{col 67}{space 3} .0041897
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0404621{col 26}{space 2} .0062644{col 37}{space 1}    6.46{col 46}{space 3}0.000{col 54}{space 4} .0281494{col 67}{space 3} .0527747
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0234664{col 26}{space 2} .0101705{col 37}{space 1}    2.31{col 46}{space 3}0.022{col 54}{space 4} .0034761{col 67}{space 3} .0434566
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0021886{col 26}{space 2}  .003644{col 37}{space 1}    0.60{col 46}{space 3}0.548{col 54}{space 4}-.0049737{col 67}{space 3} .0093509
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0003229{col 26}{space 2} .0041786{col 37}{space 1}    0.08{col 46}{space 3}0.938{col 54}{space 4}-.0078902{col 67}{space 3} .0085361
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0004491{col 26}{space 2} .0050296{col 37}{space 1}   -0.09{col 46}{space 3}0.929{col 54}{space 4}-.0103347{col 67}{space 3} .0094366
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}  .000385{col 26}{space 2} .0057326{col 37}{space 1}    0.07{col 46}{space 3}0.946{col 54}{space 4}-.0108824{col 67}{space 3} .0116524
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0020411{col 26}{space 2} .0068705{col 37}{space 1}    0.30{col 46}{space 3}0.767{col 54}{space 4} -.011463{col 67}{space 3} .0155452
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0005827{col 26}{space 2} .0079314{col 37}{space 1}    0.07{col 46}{space 3}0.941{col 54}{space 4}-.0150066{col 67}{space 3} .0161719
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0039643{col 26}{space 2} .0092164{col 37}{space 1}    0.43{col 46}{space 3}0.667{col 54}{space 4}-.0141507{col 67}{space 3} .0220793
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0136545{col 26}{space 2} .0102776{col 37}{space 1}    1.33{col 46}{space 3}0.185{col 54}{space 4}-.0065462{col 67}{space 3} .0338551
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0208649{col 26}{space 2} .0111277{col 37}{space 1}    1.88{col 46}{space 3}0.061{col 54}{space 4}-.0010066{col 67}{space 3} .0427364
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0247221{col 26}{space 2} .0120202{col 37}{space 1}    2.06{col 46}{space 3}0.040{col 54}{space 4} .0010963{col 67}{space 3}  .048348
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0331517{col 26}{space 2} .0125182{col 37}{space 1}    2.65{col 46}{space 3}0.008{col 54}{space 4} .0085471{col 67}{space 3} .0577563
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0332926{col 26}{space 2} .0132805{col 37}{space 1}    2.51{col 46}{space 3}0.013{col 54}{space 4} .0071896{col 67}{space 3} .0593955
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0400268{col 26}{space 2} .0141774{col 37}{space 1}    2.82{col 46}{space 3}0.005{col 54}{space 4} .0121611{col 67}{space 3} .0678926
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0407897{col 26}{space 2} .0151594{col 37}{space 1}    2.69{col 46}{space 3}0.007{col 54}{space 4} .0109937{col 67}{space 3} .0705856
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0495115{col 26}{space 2}  .015811{col 37}{space 1}    3.13{col 46}{space 3}0.002{col 54}{space 4} .0184348{col 67}{space 3} .0805882
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2132984{col 26}{space 2} .0396345{col 37}{space 1}    5.38{col 46}{space 3}0.000{col 54}{space 4} .1353964{col 67}{space 3} .2912004
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02689247
     {txt}sigma_e {c |} {res} .01243329
         {txt}rho {c |} {res} .82389126{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}429{txt}) = {res}39.29{col 62}{txt}Prob > F = {res}0.0000

{com}. 
.   est sto f3

. 
. xtreg f1.LGQ pftz open urban inds gdpd dig obori i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9425{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8472{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8807{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}22{txt}, {res}428{txt}){col 67}={col 70}{res}   318.61
{txt}corr(u_i, Xb) = {res}0.0407{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2} .0050272{col 26}{space 2} .0027062{col 37}{space 1}    1.86{col 46}{space 3}0.064{col 54}{space 4}-.0002919{col 67}{space 3} .0103464
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0445616{col 26}{space 2} .0109509{col 37}{space 1}   -4.07{col 46}{space 3}0.000{col 54}{space 4}-.0660858{col 67}{space 3}-.0230374
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0132066{col 26}{space 2} .0260107{col 37}{space 1}   -0.51{col 46}{space 3}0.612{col 54}{space 4}-.0643312{col 67}{space 3}  .037918
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0014988{col 26}{space 2} .0014191{col 37}{space 1}    1.06{col 46}{space 3}0.291{col 54}{space 4}-.0012905{col 67}{space 3} .0042881
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0393731{col 26}{space 2} .0062486{col 37}{space 1}    6.30{col 46}{space 3}0.000{col 54}{space 4} .0270913{col 67}{space 3} .0516549
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0278167{col 26}{space 2} .0102185{col 37}{space 1}    2.72{col 46}{space 3}0.007{col 54}{space 4} .0077319{col 67}{space 3} .0479014
{txt}{space 7}obori {c |}{col 14}{res}{space 2}-.0044593{col 26}{space 2} .0024268{col 37}{space 1}   -1.84{col 46}{space 3}0.067{col 54}{space 4}-.0092291{col 67}{space 3} .0003106
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0023202{col 26}{space 2} .0036242{col 37}{space 1}    0.64{col 46}{space 3}0.522{col 54}{space 4}-.0048033{col 67}{space 3} .0094437
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0002743{col 26}{space 2} .0041563{col 37}{space 1}    0.07{col 46}{space 3}0.947{col 54}{space 4}-.0078949{col 67}{space 3} .0084436
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0006157{col 26}{space 2}  .005003{col 37}{space 1}   -0.12{col 46}{space 3}0.902{col 54}{space 4}-.0104491{col 67}{space 3} .0092178
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0004713{col 26}{space 2} .0057019{col 37}{space 1}    0.08{col 46}{space 3}0.934{col 54}{space 4} -.010736{col 67}{space 3} .0116785
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0023339{col 26}{space 2} .0068318{col 37}{space 1}    0.34{col 46}{space 3}0.733{col 54}{space 4}-.0110942{col 67}{space 3} .0157621
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0006455{col 26}{space 2} .0078864{col 37}{space 1}    0.08{col 46}{space 3}0.935{col 54}{space 4}-.0148553{col 67}{space 3} .0161464
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0038294{col 26}{space 2} .0091636{col 37}{space 1}    0.42{col 46}{space 3}0.676{col 54}{space 4} -.014182{col 67}{space 3} .0218407
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0134095{col 26}{space 2} .0102205{col 37}{space 1}    1.31{col 46}{space 3}0.190{col 54}{space 4}-.0066791{col 67}{space 3}  .033498
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0202685{col 26}{space 2} .0110686{col 37}{space 1}    1.83{col 46}{space 3}0.068{col 54}{space 4}-.0014871{col 67}{space 3} .0420241
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0270938{col 26}{space 2} .0120615{col 37}{space 1}    2.25{col 46}{space 3}0.025{col 54}{space 4} .0033866{col 67}{space 3}  .050801
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0352847{col 26}{space 2} .0125803{col 37}{space 1}    2.80{col 46}{space 3}0.005{col 54}{space 4} .0105578{col 67}{space 3} .0600117
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0357193{col 26}{space 2}  .013328{col 37}{space 1}    2.68{col 46}{space 3}0.008{col 54}{space 4} .0095229{col 67}{space 3} .0619158
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0409832{col 26}{space 2}  .014266{col 37}{space 1}    2.87{col 46}{space 3}0.004{col 54}{space 4} .0129431{col 67}{space 3} .0690232
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0412108{col 26}{space 2} .0152509{col 37}{space 1}    2.70{col 46}{space 3}0.007{col 54}{space 4} .0112347{col 67}{space 3} .0711868
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}  .048845{col 26}{space 2} .0159497{col 37}{space 1}    3.06{col 46}{space 3}0.002{col 54}{space 4} .0174955{col 67}{space 3} .0801946
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2187253{col 26}{space 2} .0395716{col 37}{space 1}    5.53{col 46}{space 3}0.000{col 54}{space 4} .1409464{col 67}{space 3} .2965043
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02621827
     {txt}sigma_e {c |} {res}  .0123598
         {txt}rho {c |} {res} .81817245{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}428{txt}) = {res}38.28{col 62}{txt}Prob > F = {res}0.0000

{com}. 
.  est sto f4

. 
. xtreg f1.LGQ pftz open urban inds gdpd dig obori yebi i.year ,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9441{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8421{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8648{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}23{txt}, {res}427{txt}){col 67}={col 70}{res}   313.56
{txt}corr(u_i, Xb) = {res}0.3210{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2} .0044373{col 26}{space 2} .0026755{col 37}{space 1}    1.66{col 46}{space 3}0.098{col 54}{space 4}-.0008214{col 67}{space 3} .0096961
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0432371{col 26}{space 2} .0108121{col 37}{space 1}   -4.00{col 46}{space 3}0.000{col 54}{space 4}-.0644886{col 67}{space 3}-.0219856
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0129589{col 26}{space 2} .0256658{col 37}{space 1}   -0.50{col 46}{space 3}0.614{col 54}{space 4}-.0634059{col 67}{space 3} .0374881
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0011562{col 26}{space 2} .0014036{col 37}{space 1}    0.82{col 46}{space 3}0.411{col 54}{space 4}-.0016026{col 67}{space 3} .0039151
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0313648{col 26}{space 2}  .006566{col 37}{space 1}    4.78{col 46}{space 3}0.000{col 54}{space 4}  .018459{col 67}{space 3} .0442705
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0269126{col 26}{space 2} .0100862{col 37}{space 1}    2.67{col 46}{space 3}0.008{col 54}{space 4} .0070878{col 67}{space 3} .0467373
{txt}{space 7}obori {c |}{col 14}{res}{space 2}-.0029402{col 26}{space 2} .0024326{col 37}{space 1}   -1.21{col 46}{space 3}0.227{col 54}{space 4}-.0077215{col 67}{space 3} .0018411
{txt}{space 8}yebi {c |}{col 14}{res}{space 2} .0104091{col 26}{space 2} .0029342{col 37}{space 1}    3.55{col 46}{space 3}0.000{col 54}{space 4} .0046418{col 67}{space 3} .0161764
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0038857{col 26}{space 2} .0036033{col 37}{space 1}    1.08{col 46}{space 3}0.281{col 54}{space 4}-.0031966{col 67}{space 3} .0109681
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0031106{col 26}{space 2} .0041784{col 37}{space 1}    0.74{col 46}{space 3}0.457{col 54}{space 4}-.0051021{col 67}{space 3} .0113233
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .0037178{col 26}{space 2} .0050855{col 37}{space 1}    0.73{col 46}{space 3}0.465{col 54}{space 4}-.0062779{col 67}{space 3} .0137135
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0062723{col 26}{space 2} .0058591{col 37}{space 1}    1.07{col 46}{space 3}0.285{col 54}{space 4} -.005244{col 67}{space 3} .0177886
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0092499{col 26}{space 2} .0070175{col 37}{space 1}    1.32{col 46}{space 3}0.188{col 54}{space 4}-.0045432{col 67}{space 3}  .023043
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0091275{col 26}{space 2} .0081408{col 37}{space 1}    1.12{col 46}{space 3}0.263{col 54}{space 4}-.0068736{col 67}{space 3} .0251285
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0139226{col 26}{space 2} .0094792{col 37}{space 1}    1.47{col 46}{space 3}0.143{col 54}{space 4} -.004709{col 67}{space 3} .0325542
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0244843{col 26}{space 2} .0105571{col 37}{space 1}    2.32{col 46}{space 3}0.021{col 54}{space 4}  .003734{col 67}{space 3} .0452346
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0322595{col 26}{space 2} .0114329{col 37}{space 1}    2.82{col 46}{space 3}0.005{col 54}{space 4} .0097878{col 67}{space 3} .0547313
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0388318{col 26}{space 2} .0123529{col 37}{space 1}    3.14{col 46}{space 3}0.002{col 54}{space 4} .0145517{col 67}{space 3} .0631119
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0475112{col 26}{space 2}  .012883{col 37}{space 1}    3.69{col 46}{space 3}0.000{col 54}{space 4} .0221891{col 67}{space 3} .0728332
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0447644{col 26}{space 2} .0133961{col 37}{space 1}    3.34{col 46}{space 3}0.001{col 54}{space 4} .0184339{col 67}{space 3} .0710949
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0508454{col 26}{space 2} .0143486{col 37}{space 1}    3.54{col 46}{space 3}0.000{col 54}{space 4} .0226427{col 67}{space 3} .0790481
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0519146{col 26}{space 2} .0153482{col 37}{space 1}    3.38{col 46}{space 3}0.001{col 54}{space 4} .0217473{col 67}{space 3}  .082082
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0600832{col 26}{space 2} .0160538{col 37}{space 1}    3.74{col 46}{space 3}0.000{col 54}{space 4} .0285288{col 67}{space 3} .0916375
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2632901{col 26}{space 2} .0410178{col 37}{space 1}    6.42{col 46}{space 3}0.000{col 54}{space 4} .1826682{col 67}{space 3} .3439121
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02988384
     {txt}sigma_e {c |} {res} .01219585
         {txt}rho {c |} {res} .85722661{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}427{txt}) = {res}38.90{col 62}{txt}Prob > F = {res}0.0000

{com}. 
.  est sto f5

. 
. xtreg f1.LGQ lnftzarea open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9420{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8503{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8826{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}21{txt}, {res}429{txt}){col 67}={col 70}{res}   331.58
{txt}corr(u_i, Xb) = {res}0.0309{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}lnftzarea {c |}{col 14}{res}{space 2} .0009948{col 26}{space 2} .0005979{col 37}{space 1}    1.66{col 46}{space 3}0.097{col 54}{space 4}-.0001803{col 67}{space 3} .0021699
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0429092{col 26}{space 2} .0110859{col 37}{space 1}   -3.87{col 46}{space 3}0.000{col 54}{space 4}-.0646987{col 67}{space 3}-.0211197
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0076583{col 26}{space 2}  .025921{col 37}{space 1}   -0.30{col 46}{space 3}0.768{col 54}{space 4}-.0586062{col 67}{space 3} .0432897
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0016873{col 26}{space 2} .0014223{col 37}{space 1}    1.19{col 46}{space 3}0.236{col 54}{space 4}-.0011082{col 67}{space 3} .0044829
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0397275{col 26}{space 2} .0062617{col 37}{space 1}    6.34{col 46}{space 3}0.000{col 54}{space 4} .0274201{col 67}{space 3}  .052035
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0260776{col 26}{space 2} .0102174{col 37}{space 1}    2.55{col 46}{space 3}0.011{col 54}{space 4} .0059952{col 67}{space 3} .0461601
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0021866{col 26}{space 2} .0036333{col 37}{space 1}    0.60{col 46}{space 3}0.548{col 54}{space 4}-.0049547{col 67}{space 3} .0093278
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0002047{col 26}{space 2}  .004166{col 37}{space 1}    0.05{col 46}{space 3}0.961{col 54}{space 4}-.0079837{col 67}{space 3}  .008393
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0006291{col 26}{space 2}  .005014{col 37}{space 1}   -0.13{col 46}{space 3}0.900{col 54}{space 4}-.0104843{col 67}{space 3}  .009226
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0004568{col 26}{space 2} .0057158{col 37}{space 1}    0.08{col 46}{space 3}0.936{col 54}{space 4}-.0107777{col 67}{space 3} .0116913
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0023466{col 26}{space 2} .0068535{col 37}{space 1}    0.34{col 46}{space 3}0.732{col 54}{space 4} -.011124{col 67}{space 3} .0158171
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0007907{col 26}{space 2} .0079097{col 37}{space 1}    0.10{col 46}{space 3}0.920{col 54}{space 4}-.0147558{col 67}{space 3} .0163372
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0040868{col 26}{space 2} .0091898{col 37}{space 1}    0.44{col 46}{space 3}0.657{col 54}{space 4}-.0139758{col 67}{space 3} .0221494
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0137313{col 26}{space 2} .0102482{col 37}{space 1}    1.34{col 46}{space 3}0.181{col 54}{space 4}-.0064115{col 67}{space 3} .0338742
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0208086{col 26}{space 2} .0110951{col 37}{space 1}    1.88{col 46}{space 3}0.061{col 54}{space 4} -.000999{col 67}{space 3} .0426162
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}  .024685{col 26}{space 2} .0119826{col 37}{space 1}    2.06{col 46}{space 3}0.040{col 54}{space 4} .0011331{col 67}{space 3} .0482369
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0326871{col 26}{space 2} .0124857{col 37}{space 1}    2.62{col 46}{space 3}0.009{col 54}{space 4} .0081464{col 67}{space 3} .0572278
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0330548{col 26}{space 2} .0132362{col 37}{space 1}    2.50{col 46}{space 3}0.013{col 54}{space 4} .0070388{col 67}{space 3} .0590707
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0383601{col 26}{space 2} .0141752{col 37}{space 1}    2.71{col 46}{space 3}0.007{col 54}{space 4} .0104985{col 67}{space 3} .0662216
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0387694{col 26}{space 2}  .015164{col 37}{space 1}    2.56{col 46}{space 3}0.011{col 54}{space 4} .0089645{col 67}{space 3} .0685744
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0473274{col 26}{space 2} .0158042{col 37}{space 1}    2.99{col 46}{space 3}0.003{col 54}{space 4} .0162642{col 67}{space 3} .0783906
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2147831{col 26}{space 2} .0395298{col 37}{space 1}    5.43{col 46}{space 3}0.000{col 54}{space 4} .1370869{col 67}{space 3} .2924793
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02593247
     {txt}sigma_e {c |} {res} .01239762
         {txt}rho {c |} {res} .81396509{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}429{txt}) = {res}38.61{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto f6

. 
. xtgls f1.LGQ pftz open urban inds gdpd dig i.year i.id, panels(correlated)

{txt}Cross-sectional time-series FGLS regression

Coefficients:  {res}generalized least squares
{txt}Panels:        {res}heteroskedastic with cross-sectional correlation
{txt}Correlation:   {res}no autocorrelation

{txt}Estimated covariances{col 28}= {res}      465{txt}{col 49}Number of obs{col 67}= {res}       480
{txt}Estimated autocorrelations{col 28}= {res}        0{txt}{col 49}Number of groups{col 67}= {res}        30
{txt}Estimated coefficients{col 28}= {res}       36{txt}{col 49}Time periods{col 67}=  {res}       16
{txt}{col 49}Wald chi2({res}35{txt}){col 67}=  {res}271970.01
{txt}{col 49}Prob > chi2{col 67}= {res}    0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      z{col 46}   P>|z|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2}  .002346{col 26}{space 2} .0009704{col 37}{space 1}    2.42{col 46}{space 3}0.016{col 54}{space 4} .0004441{col 67}{space 3}  .004248
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0399609{col 26}{space 2} .0034058{col 37}{space 1}  -11.73{col 46}{space 3}0.000{col 54}{space 4}-.0466361{col 67}{space 3}-.0332857
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0106383{col 26}{space 2} .0074102{col 37}{space 1}   -1.44{col 46}{space 3}0.151{col 54}{space 4} -.025162{col 67}{space 3} .0038855
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0010653{col 26}{space 2} .0002601{col 37}{space 1}    4.09{col 46}{space 3}0.000{col 54}{space 4} .0005554{col 67}{space 3} .0015751
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0372737{col 26}{space 2} .0020473{col 37}{space 1}   18.21{col 46}{space 3}0.000{col 54}{space 4} .0332611{col 67}{space 3} .0412863
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0211412{col 26}{space 2} .0033058{col 37}{space 1}    6.40{col 46}{space 3}0.000{col 54}{space 4}  .014662{col 67}{space 3} .0276205
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2}  .002924{col 26}{space 2} .0008447{col 37}{space 1}    3.46{col 46}{space 3}0.001{col 54}{space 4} .0012684{col 67}{space 3} .0045797
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0010256{col 26}{space 2} .0010679{col 37}{space 1}    0.96{col 46}{space 3}0.337{col 54}{space 4}-.0010675{col 67}{space 3} .0031187
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .0026568{col 26}{space 2} .0013904{col 37}{space 1}    1.91{col 46}{space 3}0.056{col 54}{space 4}-.0000683{col 67}{space 3} .0053818
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0035454{col 26}{space 2} .0016578{col 37}{space 1}    2.14{col 46}{space 3}0.032{col 54}{space 4} .0002961{col 67}{space 3} .0067947
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0057608{col 26}{space 2} .0021401{col 37}{space 1}    2.69{col 46}{space 3}0.007{col 54}{space 4} .0015663{col 67}{space 3} .0099554
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0052487{col 26}{space 2} .0024974{col 37}{space 1}    2.10{col 46}{space 3}0.036{col 54}{space 4}  .000354{col 67}{space 3} .0101435
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0095151{col 26}{space 2} .0029073{col 37}{space 1}    3.27{col 46}{space 3}0.001{col 54}{space 4} .0038168{col 67}{space 3} .0152133
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}  .020546{col 26}{space 2} .0032808{col 37}{space 1}    6.26{col 46}{space 3}0.000{col 54}{space 4} .0141157{col 67}{space 3} .0269763
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0279551{col 26}{space 2} .0036177{col 37}{space 1}    7.73{col 46}{space 3}0.000{col 54}{space 4} .0208645{col 67}{space 3} .0350456
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0322686{col 26}{space 2} .0039253{col 37}{space 1}    8.22{col 46}{space 3}0.000{col 54}{space 4} .0245752{col 67}{space 3}  .039962
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0407858{col 26}{space 2} .0041694{col 37}{space 1}    9.78{col 46}{space 3}0.000{col 54}{space 4} .0326139{col 67}{space 3} .0489576
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0417879{col 26}{space 2} .0044395{col 37}{space 1}    9.41{col 46}{space 3}0.000{col 54}{space 4} .0330866{col 67}{space 3} .0504891
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0485103{col 26}{space 2} .0047321{col 37}{space 1}   10.25{col 46}{space 3}0.000{col 54}{space 4} .0392355{col 67}{space 3} .0577851
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0490571{col 26}{space 2} .0051369{col 37}{space 1}    9.55{col 46}{space 3}0.000{col 54}{space 4}  .038989{col 67}{space 3} .0591252
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0577255{col 26}{space 2} .0053726{col 37}{space 1}   10.74{col 46}{space 3}0.000{col 54}{space 4} .0471955{col 67}{space 3} .0682556
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 12} {c |}
{space 10}id {c |}
{space 10}2  {c |}{col 14}{res}{space 2}-.0107657{col 26}{space 2} .0055124{col 37}{space 1}   -1.95{col 46}{space 3}0.051{col 54}{space 4}-.0215697{col 67}{space 3} .0000384
{txt}{space 10}3  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 10}4  {c |}{col 14}{res}{space 2} -.043633{col 26}{space 2} .0079102{col 37}{space 1}   -5.52{col 46}{space 3}0.000{col 54}{space 4}-.0591367{col 67}{space 3}-.0281292
{txt}{space 10}5  {c |}{col 14}{res}{space 2} .0160783{col 26}{space 2} .0108702{col 37}{space 1}    1.48{col 46}{space 3}0.139{col 54}{space 4}-.0052269{col 67}{space 3} .0373835
{txt}{space 10}6  {c |}{col 14}{res}{space 2}-.0178543{col 26}{space 2} .0064854{col 37}{space 1}   -2.75{col 46}{space 3}0.006{col 54}{space 4}-.0305654{col 67}{space 3}-.0051432
{txt}{space 10}7  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 10}8  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 10}9  {c |}{col 14}{res}{space 2} .0035783{col 26}{space 2} .0044589{col 37}{space 1}    0.80{col 46}{space 3}0.422{col 54}{space 4}-.0051609{col 67}{space 3} .0123176
{txt}{space 9}10  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}11  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}12  {c |}{col 14}{res}{space 2}-.0225697{col 26}{space 2}  .006789{col 37}{space 1}   -3.32{col 46}{space 3}0.001{col 54}{space 4}-.0358759{col 67}{space 3}-.0092636
{txt}{space 9}13  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}14  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}15  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}16  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}17  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}18  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}19  {c |}{col 14}{res}{space 2} .0219153{col 26}{space 2} .0047054{col 37}{space 1}    4.66{col 46}{space 3}0.000{col 54}{space 4}  .012693{col 67}{space 3} .0311377
{txt}{space 9}20  {c |}{col 14}{res}{space 2}-.0435885{col 26}{space 2} .0079717{col 37}{space 1}   -5.47{col 46}{space 3}0.000{col 54}{space 4}-.0592128{col 67}{space 3}-.0279642
{txt}{space 9}21  {c |}{col 14}{res}{space 2}-.0255286{col 26}{space 2} .0073268{col 37}{space 1}   -3.48{col 46}{space 3}0.000{col 54}{space 4}-.0398889{col 67}{space 3}-.0111684
{txt}{space 9}22  {c |}{col 14}{res}{space 2}-.0071658{col 26}{space 2} .0069584{col 37}{space 1}   -1.03{col 46}{space 3}0.303{col 54}{space 4}-.0208042{col 67}{space 3} .0064725
{txt}{space 9}23  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}24  {c |}{col 14}{res}{space 2}-.0782468{col 26}{space 2} .0084119{col 37}{space 1}   -9.30{col 46}{space 3}0.000{col 54}{space 4}-.0947337{col 67}{space 3}-.0617599
{txt}{space 9}25  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}26  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}27  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{space 9}28  {c |}{col 14}{res}{space 2}-.0230702{col 26}{space 2} .0144379{col 37}{space 1}   -1.60{col 46}{space 3}0.110{col 54}{space 4}-.0513679{col 67}{space 3} .0052275
{txt}{space 9}29  {c |}{col 14}{res}{space 2}-.0322448{col 26}{space 2} .0101653{col 37}{space 1}   -3.17{col 46}{space 3}0.002{col 54}{space 4}-.0521686{col 67}{space 3}-.0123211
{txt}{space 9}30  {c |}{col 14}{res}{space 2} .0288043{col 26}{space 2} .0135808{col 37}{space 1}    2.12{col 46}{space 3}0.034{col 54}{space 4} .0021865{col 67}{space 3} .0554221
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2468871{col 26}{space 2} .0186091{col 37}{space 1}   13.27{col 46}{space 3}0.000{col 54}{space 4} .2104138{col 67}{space 3} .2833603
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{p 0 6 6 78}Note: when the number of panels is greater than or equal to the number of periods, results are based on a generalized inverse of a singular matrix.
{p_end}
Note: you estimated at least as many quantities as you have observations.

{com}. 
.  est sto f7

. 
. esttab f* using f.rtf,keep(pftz ftzp2 ftzp3 obori yebi lnftzarea  _cons) order(pftz ftzp2 ftzp3 obori yebi lnftzarea _cons) star(* 0.1 ** 0.05 *** 0.01) b(%6.3f) se(%6.3f) nogaps r2
{res}{txt}(output written to {browse  `"f.rtf"'})

{com}. xtreg pftz Distance open urban inds gdpd dig i.year if year<2020,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.4885{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.1377{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.1502{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}21{txt}, {res}429{txt}){col 67}={col 70}{res}    19.51
{txt}corr(u_i, Xb) = {res}-0.8870{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        pftz{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}Distance {c |}{col 14}{res}{space 2} .3856017{col 26}{space 2} .0769464{col 37}{space 1}    5.01{col 46}{space 3}0.000{col 54}{space 4} .2343628{col 67}{space 3} .5368407
{txt}{space 8}open {c |}{col 14}{res}{space 2}-1.353484{col 26}{space 2} .1861391{col 37}{space 1}   -7.27{col 46}{space 3}0.000{col 54}{space 4}-1.719342{col 67}{space 3}-.9876259
{txt}{space 7}urban {c |}{col 14}{res}{space 2}  .034053{col 26}{space 2} .4490525{col 37}{space 1}    0.08{col 46}{space 3}0.940{col 54}{space 4}-.8485639{col 67}{space 3} .9166698
{txt}{space 8}inds {c |}{col 14}{res}{space 2}-.0381993{col 26}{space 2} .0245417{col 37}{space 1}   -1.56{col 46}{space 3}0.120{col 54}{space 4}-.0864361{col 67}{space 3} .0100376
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2}-.0180819{col 26}{space 2} .1086634{col 37}{space 1}   -0.17{col 46}{space 3}0.868{col 54}{space 4}-.2316608{col 67}{space 3} .1954969
{txt}{space 9}dig {c |}{col 14}{res}{space 2} -.406468{col 26}{space 2} .1754768{col 37}{space 1}   -2.32{col 46}{space 3}0.021{col 54}{space 4}-.7513692{col 67}{space 3}-.0615667
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2}  .023377{col 26}{space 2} .0629774{col 37}{space 1}    0.37{col 46}{space 3}0.711{col 54}{space 4}-.1004056{col 67}{space 3} .1471596
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0753225{col 26}{space 2} .0724357{col 37}{space 1}    1.04{col 46}{space 3}0.299{col 54}{space 4}-.0670506{col 67}{space 3} .2176955
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .1112882{col 26}{space 2} .0872987{col 37}{space 1}    1.27{col 46}{space 3}0.203{col 54}{space 4}-.0602983{col 67}{space 3} .2828746
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0938757{col 26}{space 2} .0995549{col 37}{space 1}    0.94{col 46}{space 3}0.346{col 54}{space 4}-.1018004{col 67}{space 3} .2895517
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0519938{col 26}{space 2} .1190932{col 37}{space 1}    0.44{col 46}{space 3}0.663{col 54}{space 4}-.1820851{col 67}{space 3} .2860727
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .1041183{col 26}{space 2} .1376148{col 37}{space 1}    0.76{col 46}{space 3}0.450{col 54}{space 4}-.1663649{col 67}{space 3} .3746014
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}  .142914{col 26}{space 2} .1599448{col 37}{space 1}    0.89{col 46}{space 3}0.372{col 54}{space 4} -.171459{col 67}{space 3}  .457287
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .1785708{col 26}{space 2} .1783432{col 37}{space 1}    1.00{col 46}{space 3}0.317{col 54}{space 4}-.1719644{col 67}{space 3} .5291061
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}   .23738{col 26}{space 2} .1930694{col 37}{space 1}    1.23{col 46}{space 3}0.220{col 54}{space 4}-.1420996{col 67}{space 3} .6168596
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .2564565{col 26}{space 2} .2084583{col 37}{space 1}    1.23{col 46}{space 3}0.219{col 54}{space 4}-.1532701{col 67}{space 3} .6661832
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .3360542{col 26}{space 2} .2170535{col 37}{space 1}    1.55{col 46}{space 3}0.122{col 54}{space 4}-.0905663{col 67}{space 3} .7626748
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .3367998{col 26}{space 2} .2300535{col 37}{space 1}    1.46{col 46}{space 3}0.144{col 54}{space 4}-.1153725{col 67}{space 3} .7889721
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .6057619{col 26}{space 2}  .245744{col 37}{space 1}    2.47{col 46}{space 3}0.014{col 54}{space 4} .1227499{col 67}{space 3} 1.088774
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .6941544{col 26}{space 2} .2627706{col 37}{space 1}    2.64{col 46}{space 3}0.009{col 54}{space 4} .1776763{col 67}{space 3} 1.210632
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .8062421{col 26}{space 2} .2730703{col 37}{space 1}    2.95{col 46}{space 3}0.003{col 54}{space 4} .2695198{col 67}{space 3} 1.342964
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.723731{col 26}{space 2} .8487824{col 37}{space 1}    3.21{col 46}{space 3}0.001{col 54}{space 4} 1.055441{col 67}{space 3}  4.39202
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .43752883
     {txt}sigma_e {c |} {res} .21476745
         {txt}rho {c |} {res} .80583545{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}429{txt}) = {res}4.95{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto ivs1

. 
. ivregress 2sls f1.LGQ open urban inds gdpd dig i.id i.year (pftz =Distance),first 
{res}{txt}note: {bf:2020.year} identifies no observations in the sample.

First-stage regressions
{hline 23}

{col 57}{lalign 13:Number of obs}{col 70} = {res}{ralign 6:480}
{txt}{col 57}{lalign 13:F({res:50}, {res:429})}{col 70} = {res}{ralign 6:11.18}
{txt}{col 57}{lalign 13:Prob > F}{col 70} = {res}{ralign 6:0.0000}
{txt}{col 57}{lalign 13:R-squared}{col 70} = {res}{ralign 6:0.5659}
{txt}{col 57}{lalign 13:Adj R-squared}{col 70} = {res}{ralign 6:0.5153}
{txt}{col 57}{lalign 13:Root MSE}{col 70} = {res}{ralign 6:0.2148}

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        pftz{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}open {c |}{col 14}{res}{space 2}-1.353484{col 26}{space 2} .1861391{col 37}{space 1}   -7.27{col 46}{space 3}0.000{col 54}{space 4}-1.719342{col 67}{space 3}-.9876259
{txt}{space 7}urban {c |}{col 14}{res}{space 2}  .034053{col 26}{space 2} .4490525{col 37}{space 1}    0.08{col 46}{space 3}0.940{col 54}{space 4}-.8485639{col 67}{space 3} .9166698
{txt}{space 8}inds {c |}{col 14}{res}{space 2}-.0381993{col 26}{space 2} .0245417{col 37}{space 1}   -1.56{col 46}{space 3}0.120{col 54}{space 4}-.0864361{col 67}{space 3} .0100376
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2}-.0180819{col 26}{space 2} .1086634{col 37}{space 1}   -0.17{col 46}{space 3}0.868{col 54}{space 4}-.2316608{col 67}{space 3} .1954969
{txt}{space 9}dig {c |}{col 14}{res}{space 2} -.406468{col 26}{space 2} .1754768{col 37}{space 1}   -2.32{col 46}{space 3}0.021{col 54}{space 4}-.7513692{col 67}{space 3}-.0615667
{txt}{space 12} {c |}
{space 10}id {c |}
{space 10}2  {c |}{col 14}{res}{space 2}-.4543108{col 26}{space 2} .2205677{col 37}{space 1}   -2.06{col 46}{space 3}0.040{col 54}{space 4}-.8878387{col 67}{space 3}-.0207829
{txt}{space 10}3  {c |}{col 14}{res}{space 2}-.0320535{col 26}{space 2} .3588602{col 37}{space 1}   -0.09{col 46}{space 3}0.929{col 54}{space 4}-.7373964{col 67}{space 3} .6732895
{txt}{space 10}4  {c |}{col 14}{res}{space 2} .0972871{col 26}{space 2} .4094152{col 37}{space 1}    0.24{col 46}{space 3}0.812{col 54}{space 4}-.7074222{col 67}{space 3} .9019964
{txt}{space 10}5  {c |}{col 14}{res}{space 2} .3349894{col 26}{space 2} .6035358{col 37}{space 1}    0.56{col 46}{space 3}0.579{col 54}{space 4}-.8512657{col 67}{space 3} 1.521245
{txt}{space 10}6  {c |}{col 14}{res}{space 2} .2978265{col 26}{space 2} .3354653{col 37}{space 1}    0.89{col 46}{space 3}0.375{col 54}{space 4}-.3615337{col 67}{space 3} .9571867
{txt}{space 10}7  {c |}{col 14}{res}{space 2} .3270926{col 26}{space 2} .4503884{col 37}{space 1}    0.73{col 46}{space 3}0.468{col 54}{space 4}  -.55815{col 67}{space 3} 1.212335
{txt}{space 10}8  {c |}{col 14}{res}{space 2} .5972381{col 26}{space 2} .5202549{col 37}{space 1}    1.15{col 46}{space 3}0.252{col 54}{space 4}-.4253276{col 67}{space 3} 1.619804
{txt}{space 10}9  {c |}{col 14}{res}{space 2} .2860101{col 26}{space 2} .1909795{col 37}{space 1}    1.50{col 46}{space 3}0.135{col 54}{space 4}-.0893618{col 67}{space 3}  .661382
{txt}{space 9}10  {c |}{col 14}{res}{space 2} .2912196{col 26}{space 2} .2308466{col 37}{space 1}    1.26{col 46}{space 3}0.208{col 54}{space 4}-.1625116{col 67}{space 3} .7449508
{txt}{space 9}11  {c |}{col 14}{res}{space 2} .4066728{col 26}{space 2} .2355965{col 37}{space 1}    1.73{col 46}{space 3}0.085{col 54}{space 4}-.0563942{col 67}{space 3} .8697398
{txt}{space 9}12  {c |}{col 14}{res}{space 2}-.1244659{col 26}{space 2} .3759301{col 37}{space 1}   -0.33{col 46}{space 3}0.741{col 54}{space 4}  -.86336{col 67}{space 3} .6144282
{txt}{space 9}13  {c |}{col 14}{res}{space 2}-.3513639{col 26}{space 2} .3416918{col 37}{space 1}   -1.03{col 46}{space 3}0.304{col 54}{space 4}-1.022962{col 67}{space 3} .3202344
{txt}{space 9}14  {c |}{col 14}{res}{space 2} .0255555{col 26}{space 2}  .428518{col 37}{space 1}    0.06{col 46}{space 3}0.952{col 54}{space 4}-.8167006{col 67}{space 3} .8678116
{txt}{space 9}15  {c |}{col 14}{res}{space 2} .0377929{col 26}{space 2} .2798178{col 37}{space 1}    0.14{col 46}{space 3}0.893{col 54}{space 4}-.5121916{col 67}{space 3} .5877774
{txt}{space 9}16  {c |}{col 14}{res}{space 2} .1800111{col 26}{space 2} .3581819{col 37}{space 1}    0.50{col 46}{space 3}0.616{col 54}{space 4}-.5239988{col 67}{space 3} .8840209
{txt}{space 9}17  {c |}{col 14}{res}{space 2} .2969667{col 26}{space 2} .3747986{col 37}{space 1}    0.79{col 46}{space 3}0.429{col 54}{space 4}-.4397035{col 67}{space 3} 1.033637
{txt}{space 9}18  {c |}{col 14}{res}{space 2} .0582728{col 26}{space 2} .3870437{col 37}{space 1}    0.15{col 46}{space 3}0.880{col 54}{space 4}-.7024652{col 67}{space 3} .8190107
{txt}{space 9}19  {c |}{col 14}{res}{space 2} .5397298{col 26}{space 2} .2510003{col 37}{space 1}    2.15{col 46}{space 3}0.032{col 54}{space 4} .0463864{col 67}{space 3} 1.033073
{txt}{space 9}20  {c |}{col 14}{res}{space 2} -.287198{col 26}{space 2} .4411175{col 37}{space 1}   -0.65{col 46}{space 3}0.515{col 54}{space 4}-1.154219{col 67}{space 3} .5798225
{txt}{space 9}21  {c |}{col 14}{res}{space 2}-1.266631{col 26}{space 2} .4274612{col 37}{space 1}   -2.96{col 46}{space 3}0.003{col 54}{space 4} -2.10681{col 67}{space 3}-.4264517
{txt}{space 9}22  {c |}{col 14}{res}{space 2} .5685558{col 26}{space 2} .3664131{col 37}{space 1}    1.55{col 46}{space 3}0.121{col 54}{space 4}-.1516324{col 67}{space 3} 1.288744
{txt}{space 9}23  {c |}{col 14}{res}{space 2} .5895139{col 26}{space 2} .4716195{col 37}{space 1}    1.25{col 46}{space 3}0.212{col 54}{space 4}-.3374586{col 67}{space 3} 1.516486
{txt}{space 9}24  {c |}{col 14}{res}{space 2} .1480349{col 26}{space 2} .4658293{col 37}{space 1}    0.32{col 46}{space 3}0.751{col 54}{space 4}-.7675568{col 67}{space 3} 1.063627
{txt}{space 9}25  {c |}{col 14}{res}{space 2} .3893613{col 26}{space 2} .5151673{col 37}{space 1}    0.76{col 46}{space 3}0.450{col 54}{space 4}-.6232047{col 67}{space 3} 1.401927
{txt}{space 9}26  {c |}{col 14}{res}{space 2} .6021699{col 26}{space 2} .4475347{col 37}{space 1}    1.35{col 46}{space 3}0.179{col 54}{space 4}-.2774637{col 67}{space 3} 1.481804
{txt}{space 9}27  {c |}{col 14}{res}{space 2} .5411313{col 26}{space 2} .5875302{col 37}{space 1}    0.92{col 46}{space 3}0.358{col 54}{space 4}-.6136646{col 67}{space 3} 1.695927
{txt}{space 9}28  {c |}{col 14}{res}{space 2} .6730434{col 26}{space 2}  .772459{col 37}{space 1}    0.87{col 46}{space 3}0.384{col 54}{space 4}-.8452318{col 67}{space 3} 2.191319
{txt}{space 9}29  {c |}{col 14}{res}{space 2} .5182301{col 26}{space 2} .5020238{col 37}{space 1}    1.03{col 46}{space 3}0.303{col 54}{space 4}-.4685023{col 67}{space 3} 1.504963
{txt}{space 9}30  {c |}{col 14}{res}{space 2} 1.113956{col 26}{space 2} .7311506{col 37}{space 1}    1.52{col 46}{space 3}0.128{col 54}{space 4}-.3231273{col 67}{space 3} 2.551039
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2}  .023377{col 26}{space 2} .0629774{col 37}{space 1}    0.37{col 46}{space 3}0.711{col 54}{space 4}-.1004056{col 67}{space 3} .1471596
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0753225{col 26}{space 2} .0724357{col 37}{space 1}    1.04{col 46}{space 3}0.299{col 54}{space 4}-.0670506{col 67}{space 3} .2176955
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .1112882{col 26}{space 2} .0872987{col 37}{space 1}    1.27{col 46}{space 3}0.203{col 54}{space 4}-.0602983{col 67}{space 3} .2828746
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0938757{col 26}{space 2} .0995549{col 37}{space 1}    0.94{col 46}{space 3}0.346{col 54}{space 4}-.1018004{col 67}{space 3} .2895517
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0519938{col 26}{space 2} .1190932{col 37}{space 1}    0.44{col 46}{space 3}0.663{col 54}{space 4}-.1820851{col 67}{space 3} .2860727
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .1041183{col 26}{space 2} .1376148{col 37}{space 1}    0.76{col 46}{space 3}0.450{col 54}{space 4}-.1663649{col 67}{space 3} .3746014
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}  .142914{col 26}{space 2} .1599448{col 37}{space 1}    0.89{col 46}{space 3}0.372{col 54}{space 4} -.171459{col 67}{space 3}  .457287
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .1785708{col 26}{space 2} .1783432{col 37}{space 1}    1.00{col 46}{space 3}0.317{col 54}{space 4}-.1719644{col 67}{space 3} .5291061
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}   .23738{col 26}{space 2} .1930694{col 37}{space 1}    1.23{col 46}{space 3}0.220{col 54}{space 4}-.1420996{col 67}{space 3} .6168596
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .2564565{col 26}{space 2} .2084583{col 37}{space 1}    1.23{col 46}{space 3}0.219{col 54}{space 4}-.1532701{col 67}{space 3} .6661832
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .3360542{col 26}{space 2} .2170535{col 37}{space 1}    1.55{col 46}{space 3}0.122{col 54}{space 4}-.0905663{col 67}{space 3} .7626748
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .3367998{col 26}{space 2} .2300535{col 37}{space 1}    1.46{col 46}{space 3}0.144{col 54}{space 4}-.1153725{col 67}{space 3} .7889721
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .6057619{col 26}{space 2}  .245744{col 37}{space 1}    2.47{col 46}{space 3}0.014{col 54}{space 4} .1227499{col 67}{space 3} 1.088774
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .6941544{col 26}{space 2} .2627706{col 37}{space 1}    2.64{col 46}{space 3}0.009{col 54}{space 4} .1776763{col 67}{space 3} 1.210632
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .8062421{col 26}{space 2} .2730703{col 37}{space 1}    2.95{col 46}{space 3}0.003{col 54}{space 4} .2695198{col 67}{space 3} 1.342964
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (empty)
{space 12} {c |}
{space 4}Distance {c |}{col 14}{res}{space 2} .3856017{col 26}{space 2} .0769464{col 37}{space 1}    5.01{col 46}{space 3}0.000{col 54}{space 4} .2343628{col 67}{space 3} .5368407
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} 2.510243{col 26}{space 2} 1.124882{col 37}{space 1}    2.23{col 46}{space 3}0.026{col 54}{space 4} .2992777{col 67}{space 3} 4.721208
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}

{res}
{txt}{col 1}Instrumental variables 2SLS regression{col 51}Number of obs{col 67}= {res}       480
{txt}{col 1}{col 51}Wald chi2({res}50{txt}){col 67}= {res}  15336.56
{txt}{col 1}{col 51}Prob > chi2{col 67}= {res}    0.0000
{txt}{col 1}{col 51}R-squared{col 67}= {res}    0.9693
{txt}{col 51}Root MSE{col 67}=    {res} .01434

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      z{col 46}   P>|z|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2} .0442818{col 26}{space 2} .0133238{col 37}{space 1}    3.32{col 46}{space 3}0.001{col 54}{space 4} .0181677{col 67}{space 3} .0703959
{txt}{space 8}open {c |}{col 14}{res}{space 2} .0024763{col 26}{space 2} .0196386{col 37}{space 1}    0.13{col 46}{space 3}0.900{col 54}{space 4}-.0360147{col 67}{space 3} .0409673
{txt}{space 7}urban {c |}{col 14}{res}{space 2} -.008373{col 26}{space 2} .0299826{col 37}{space 1}   -0.28{col 46}{space 3}0.780{col 54}{space 4}-.0671378{col 67}{space 3} .0503919
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0032311{col 26}{space 2} .0017215{col 37}{space 1}    1.88{col 46}{space 3}0.061{col 54}{space 4}-.0001431{col 67}{space 3} .0066052
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0390514{col 26}{space 2} .0072373{col 37}{space 1}    5.40{col 46}{space 3}0.000{col 54}{space 4} .0248665{col 67}{space 3} .0532362
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0405263{col 26}{space 2} .0127476{col 37}{space 1}    3.18{col 46}{space 3}0.001{col 54}{space 4} .0155415{col 67}{space 3} .0655112
{txt}{space 12} {c |}
{space 10}id {c |}
{space 10}2  {c |}{col 14}{res}{space 2}-.0147944{col 26}{space 2} .0120257{col 37}{space 1}   -1.23{col 46}{space 3}0.219{col 54}{space 4}-.0383643{col 67}{space 3} .0087756
{txt}{space 10}3  {c |}{col 14}{res}{space 2}-.0283297{col 26}{space 2} .0240254{col 37}{space 1}   -1.18{col 46}{space 3}0.238{col 54}{space 4}-.0754186{col 67}{space 3} .0187592
{txt}{space 10}4  {c |}{col 14}{res}{space 2}-.0165062{col 26}{space 2}  .027089{col 37}{space 1}   -0.61{col 46}{space 3}0.542{col 54}{space 4}-.0695997{col 67}{space 3} .0365873
{txt}{space 10}5  {c |}{col 14}{res}{space 2} .0464051{col 26}{space 2} .0396115{col 37}{space 1}    1.17{col 46}{space 3}0.241{col 54}{space 4}-.0312319{col 67}{space 3} .1240421
{txt}{space 10}6  {c |}{col 14}{res}{space 2}-.0057893{col 26}{space 2} .0219686{col 37}{space 1}   -0.26{col 46}{space 3}0.792{col 54}{space 4}-.0488469{col 67}{space 3} .0372683
{txt}{space 10}7  {c |}{col 14}{res}{space 2}-.0082668{col 26}{space 2} .0290262{col 37}{space 1}   -0.28{col 46}{space 3}0.776{col 54}{space 4} -.065157{col 67}{space 3} .0486235
{txt}{space 10}8  {c |}{col 14}{res}{space 2} .0258105{col 26}{space 2} .0329101{col 37}{space 1}    0.78{col 46}{space 3}0.433{col 54}{space 4}-.0386921{col 67}{space 3}  .090313
{txt}{space 10}9  {c |}{col 14}{res}{space 2}-.0275299{col 26}{space 2} .0150526{col 37}{space 1}   -1.83{col 46}{space 3}0.067{col 54}{space 4}-.0570324{col 67}{space 3} .0019726
{txt}{space 9}10  {c |}{col 14}{res}{space 2} .0281042{col 26}{space 2} .0152039{col 37}{space 1}    1.85{col 46}{space 3}0.065{col 54}{space 4}-.0016949{col 67}{space 3} .0579032
{txt}{space 9}11  {c |}{col 14}{res}{space 2} .0406627{col 26}{space 2} .0164402{col 37}{space 1}    2.47{col 46}{space 3}0.013{col 54}{space 4} .0084405{col 67}{space 3}  .072885
{txt}{space 9}12  {c |}{col 14}{res}{space 2} .0063916{col 26}{space 2} .0254079{col 37}{space 1}    0.25{col 46}{space 3}0.801{col 54}{space 4} -.043407{col 67}{space 3} .0561902
{txt}{space 9}13  {c |}{col 14}{res}{space 2} .0079734{col 26}{space 2} .0215972{col 37}{space 1}    0.37{col 46}{space 3}0.712{col 54}{space 4}-.0343562{col 67}{space 3} .0503031
{txt}{space 9}14  {c |}{col 14}{res}{space 2}-.0050287{col 26}{space 2} .0285437{col 37}{space 1}   -0.18{col 46}{space 3}0.860{col 54}{space 4}-.0609734{col 67}{space 3} .0509159
{txt}{space 9}15  {c |}{col 14}{res}{space 2} .0114639{col 26}{space 2} .0185999{col 37}{space 1}    0.62{col 46}{space 3}0.538{col 54}{space 4}-.0249913{col 67}{space 3}  .047919
{txt}{space 9}16  {c |}{col 14}{res}{space 2}-.0130287{col 26}{space 2} .0234513{col 37}{space 1}   -0.56{col 46}{space 3}0.579{col 54}{space 4}-.0589923{col 67}{space 3}  .032935
{txt}{space 9}17  {c |}{col 14}{res}{space 2}-.0037422{col 26}{space 2} .0242334{col 37}{space 1}   -0.15{col 46}{space 3}0.877{col 54}{space 4}-.0512388{col 67}{space 3} .0437544
{txt}{space 9}18  {c |}{col 14}{res}{space 2}-.0046394{col 26}{space 2} .0256524{col 37}{space 1}   -0.18{col 46}{space 3}0.856{col 54}{space 4}-.0549171{col 67}{space 3} .0456384
{txt}{space 9}19  {c |}{col 14}{res}{space 2}-.0014326{col 26}{space 2} .0195549{col 37}{space 1}   -0.07{col 46}{space 3}0.942{col 54}{space 4}-.0397596{col 67}{space 3} .0368943
{txt}{space 9}20  {c |}{col 14}{res}{space 2}-.0151667{col 26}{space 2} .0297961{col 37}{space 1}   -0.51{col 46}{space 3}0.611{col 54}{space 4} -.073566{col 67}{space 3} .0432325
{txt}{space 9}21  {c |}{col 14}{res}{space 2}-.0069949{col 26}{space 2} .0246113{col 37}{space 1}   -0.28{col 46}{space 3}0.776{col 54}{space 4}-.0552322{col 67}{space 3} .0412424
{txt}{space 9}22  {c |}{col 14}{res}{space 2} .0093689{col 26}{space 2} .0226879{col 37}{space 1}    0.41{col 46}{space 3}0.680{col 54}{space 4}-.0350986{col 67}{space 3} .0538364
{txt}{space 9}23  {c |}{col 14}{res}{space 2} .0110315{col 26}{space 2} .0298393{col 37}{space 1}    0.37{col 46}{space 3}0.712{col 54}{space 4}-.0474525{col 67}{space 3} .0695154
{txt}{space 9}24  {c |}{col 14}{res}{space 2}-.0470368{col 26}{space 2} .0307012{col 37}{space 1}   -1.53{col 46}{space 3}0.126{col 54}{space 4}-.1072101{col 67}{space 3} .0131365
{txt}{space 9}25  {c |}{col 14}{res}{space 2}-.0011589{col 26}{space 2} .0333465{col 37}{space 1}   -0.03{col 46}{space 3}0.972{col 54}{space 4}-.0665169{col 67}{space 3} .0641991
{txt}{space 9}26  {c |}{col 14}{res}{space 2}-.0110848{col 26}{space 2} .0282026{col 37}{space 1}   -0.39{col 46}{space 3}0.694{col 54}{space 4} -.066361{col 67}{space 3} .0441914
{txt}{space 9}27  {c |}{col 14}{res}{space 2} .0056368{col 26}{space 2} .0376157{col 37}{space 1}    0.15{col 46}{space 3}0.881{col 54}{space 4}-.0680886{col 67}{space 3} .0793622
{txt}{space 9}28  {c |}{col 14}{res}{space 2} .0121775{col 26}{space 2}  .050099{col 37}{space 1}    0.24{col 46}{space 3}0.808{col 54}{space 4}-.0860147{col 67}{space 3} .1103697
{txt}{space 9}29  {c |}{col 14}{res}{space 2}-.0052878{col 26}{space 2} .0319871{col 37}{space 1}   -0.17{col 46}{space 3}0.869{col 54}{space 4}-.0679813{col 67}{space 3} .0574057
{txt}{space 9}30  {c |}{col 14}{res}{space 2} .0580357{col 26}{space 2}  .045752{col 37}{space 1}    1.27{col 46}{space 3}0.205{col 54}{space 4}-.0316365{col 67}{space 3} .1477079
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0016104{col 26}{space 2} .0042058{col 37}{space 1}    0.38{col 46}{space 3}0.702{col 54}{space 4}-.0066328{col 67}{space 3} .0098536
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.0016708{col 26}{space 2}  .004854{col 37}{space 1}   -0.34{col 46}{space 3}0.731{col 54}{space 4}-.0111844{col 67}{space 3} .0078428
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0034871{col 26}{space 2} .0058675{col 37}{space 1}   -0.59{col 46}{space 3}0.552{col 54}{space 4}-.0149872{col 67}{space 3}  .008013
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.0015121{col 26}{space 2}  .006634{col 37}{space 1}   -0.23{col 46}{space 3}0.820{col 54}{space 4}-.0145145{col 67}{space 3} .0114902
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0019222{col 26}{space 2} .0079231{col 37}{space 1}    0.24{col 46}{space 3}0.808{col 54}{space 4}-.0136068{col 67}{space 3} .0174513
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.0011808{col 26}{space 2} .0091618{col 37}{space 1}   -0.13{col 46}{space 3}0.897{col 54}{space 4}-.0191375{col 67}{space 3} .0167759
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0010209{col 26}{space 2} .0106637{col 37}{space 1}    0.10{col 46}{space 3}0.924{col 54}{space 4}-.0198796{col 67}{space 3} .0219214
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}  .009523{col 26}{space 2} .0119187{col 37}{space 1}    0.80{col 46}{space 3}0.424{col 54}{space 4}-.0138371{col 67}{space 3} .0328831
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0143416{col 26}{space 2} .0129797{col 37}{space 1}    1.10{col 46}{space 3}0.269{col 54}{space 4}-.0110981{col 67}{space 3} .0397814
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0177991{col 26}{space 2} .0140222{col 37}{space 1}    1.27{col 46}{space 3}0.204{col 54}{space 4}-.0096838{col 67}{space 3} .0452821
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0225718{col 26}{space 2} .0147888{col 37}{space 1}    1.53{col 46}{space 3}0.127{col 54}{space 4}-.0064138{col 67}{space 3} .0515573
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0229645{col 26}{space 2} .0156348{col 37}{space 1}    1.47{col 46}{space 3}0.142{col 54}{space 4}-.0076791{col 67}{space 3} .0536081
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0178807{col 26}{space 2} .0176668{col 37}{space 1}    1.01{col 46}{space 3}0.311{col 54}{space 4}-.0167455{col 67}{space 3}  .052507
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0148987{col 26}{space 2} .0191396{col 37}{space 1}    0.78{col 46}{space 3}0.436{col 54}{space 4}-.0226142{col 67}{space 3} .0524116
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0147588{col 26}{space 2} .0209819{col 37}{space 1}    0.70{col 46}{space 3}0.482{col 54}{space 4}-.0263649{col 67}{space 3} .0558825
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (empty)
{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}  .202066{col 26}{space 2} .0694593{col 37}{space 1}    2.91{col 46}{space 3}0.004{col 54}{space 4} .0659282{col 67}{space 3} .3382037
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{p 0 12 77}Endogenous: {res:pftz}{p_end}
{p 0 12 77}Exogenous:{space 1} {res:open urban inds gdpd dig 2.id 3.id 4.id 5.id 6.id 7.id 8.id 9.id 10.id 11.id 12.id 13.id 14.id 15.id 16.id 17.id 18.id 19.id 20.id 21.id 22.id 23.id 24.id 25.id 26.id 27.id 28.id 29.id 30.id 2005.year 2006.year 2007.year 2008.year 2009.year 2010.year 2011.year 2012.year 2013.year 2014.year 2015.year 2016.year 2017.year 2018.year 2019.year Distance}{p_end}

{com}. 
. est sto iv1

. 
. esttab ivs1 iv1  using iv.rtf, keep( pftz Distance _cons) order( pftz Distance _cons) star(* 0.1 ** 0.05 *** 0.01) b(%6.3f)  se(%6.3f) nogaps r2
{res}{txt}(output written to {browse  `"iv.rtf"'})

{com}. xtreg  f1.LGQ c.coaa#c.pftz c.coab#c.pftz pftz  open urban inds gdpd dig,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9314{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8897{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8935{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}8{txt}, {res}442{txt}){col 67}={col 70}{res}   750.60
{txt}corr(u_i, Xb) = {res}-0.5211{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        F.LGQ{col 15}{c |} Coefficient{col 27}  Std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
c.coaa#c.pftz {c |}{col 15}{res}{space 2} -.009704{col 27}{space 2}  .006396{col 38}{space 1}   -1.52{col 47}{space 3}0.130{col 55}{space 4}-.0222744{col 68}{space 3} .0028663
{txt}{space 13} {c |}
c.coab#c.pftz {c |}{col 15}{res}{space 2} .0151121{col 27}{space 2} .0049145{col 38}{space 1}    3.07{col 47}{space 3}0.002{col 55}{space 4} .0054534{col 68}{space 3} .0247708
{txt}{space 13} {c |}
{space 9}pftz {c |}{col 15}{res}{space 2} .0028942{col 27}{space 2} .0039266{col 38}{space 1}    0.74{col 47}{space 3}0.461{col 55}{space 4}-.0048229{col 68}{space 3} .0106113
{txt}{space 9}open {c |}{col 15}{res}{space 2}-.0130165{col 27}{space 2}  .012201{col 38}{space 1}   -1.07{col 47}{space 3}0.287{col 55}{space 4}-.0369957{col 68}{space 3} .0109626
{txt}{space 8}urban {c |}{col 15}{res}{space 2} .1021923{col 27}{space 2}  .019035{col 38}{space 1}    5.37{col 47}{space 3}0.000{col 55}{space 4} .0647818{col 68}{space 3} .1396027
{txt}{space 9}inds {c |}{col 15}{res}{space 2} .0021484{col 27}{space 2} .0014931{col 38}{space 1}    1.44{col 47}{space 3}0.151{col 55}{space 4}-.0007861{col 68}{space 3} .0050829
{txt}{space 9}gdpd {c |}{col 15}{res}{space 2} .0432534{col 27}{space 2}  .003596{col 38}{space 1}   12.03{col 47}{space 3}0.000{col 55}{space 4}  .036186{col 68}{space 3} .0503209
{txt}{space 10}dig {c |}{col 15}{res}{space 2} .0568421{col 27}{space 2}  .008379{col 38}{space 1}    6.78{col 47}{space 3}0.000{col 55}{space 4} .0403745{col 68}{space 3} .0733096
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .1307492{col 27}{space 2} .0207227{col 38}{space 1}    6.31{col 47}{space 3}0.000{col 55}{space 4} .0900219{col 68}{space 3} .1714766
{txt}{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
      sigma_u {c |} {res} .02798592
      {txt}sigma_e {c |} {res} .01327558
          {txt}rho {c |} {res} .81631077{txt}   (fraction of variance due to u_i)
{hline 14}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}442{txt}) = {res}35.99{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto b1

. 
. xtreg  f1.LGQ c.coaa#c.pftz c.coab#c.pftz pftz  open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9429{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8681{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8941{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}23{txt}, {res}427{txt}){col 67}={col 70}{res}   306.53
{txt}corr(u_i, Xb) = {res}-0.0888{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}        F.LGQ{col 15}{c |} Coefficient{col 27}  Std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
c.coaa#c.pftz {c |}{col 15}{res}{space 2}-.0085554{col 27}{space 2} .0062046{col 38}{space 1}   -1.38{col 47}{space 3}0.169{col 55}{space 4}-.0207507{col 68}{space 3} .0036399
{txt}{space 13} {c |}
c.coab#c.pftz {c |}{col 15}{res}{space 2} .0105489{col 27}{space 2} .0047682{col 38}{space 1}    2.21{col 47}{space 3}0.027{col 55}{space 4}  .001177{col 68}{space 3} .0199209
{txt}{space 13} {c |}
{space 9}pftz {c |}{col 15}{res}{space 2}-.0002244{col 27}{space 2} .0039425{col 38}{space 1}   -0.06{col 47}{space 3}0.955{col 55}{space 4}-.0079736{col 68}{space 3} .0075248
{txt}{space 9}open {c |}{col 15}{res}{space 2}-.0298903{col 27}{space 2} .0121212{col 38}{space 1}   -2.47{col 47}{space 3}0.014{col 55}{space 4}-.0537149{col 68}{space 3}-.0060656
{txt}{space 8}urban {c |}{col 15}{res}{space 2} -.002105{col 27}{space 2} .0261458{col 38}{space 1}   -0.08{col 47}{space 3}0.936{col 55}{space 4}-.0534955{col 68}{space 3} .0492854
{txt}{space 9}inds {c |}{col 15}{res}{space 2} .0016002{col 27}{space 2} .0014137{col 38}{space 1}    1.13{col 47}{space 3}0.258{col 55}{space 4}-.0011785{col 68}{space 3}  .004379
{txt}{space 9}gdpd {c |}{col 15}{res}{space 2} .0409655{col 27}{space 2} .0066293{col 38}{space 1}    6.18{col 47}{space 3}0.000{col 55}{space 4} .0279353{col 68}{space 3} .0539957
{txt}{space 10}dig {c |}{col 15}{res}{space 2} .0287619{col 27}{space 2} .0102092{col 38}{space 1}    2.82{col 47}{space 3}0.005{col 55}{space 4} .0086953{col 68}{space 3} .0488284
{txt}{space 13} {c |}
{space 9}year {c |}
{space 8}2005  {c |}{col 15}{res}{space 2} .0016413{col 27}{space 2} .0036642{col 38}{space 1}    0.45{col 47}{space 3}0.654{col 55}{space 4}-.0055609{col 68}{space 3} .0088434
{txt}{space 8}2006  {c |}{col 15}{res}{space 2}-.0008299{col 27}{space 2} .0042704{col 38}{space 1}   -0.19{col 47}{space 3}0.846{col 55}{space 4}-.0092235{col 68}{space 3} .0075637
{txt}{space 8}2007  {c |}{col 15}{res}{space 2}-.0020949{col 27}{space 2} .0052096{col 38}{space 1}   -0.40{col 47}{space 3}0.688{col 55}{space 4}-.0123345{col 68}{space 3} .0081448
{txt}{space 8}2008  {c |}{col 15}{res}{space 2}-.0009765{col 27}{space 2} .0059736{col 38}{space 1}   -0.16{col 47}{space 3}0.870{col 55}{space 4}-.0127178{col 68}{space 3} .0107649
{txt}{space 8}2009  {c |}{col 15}{res}{space 2} .0011674{col 27}{space 2} .0071496{col 38}{space 1}    0.16{col 47}{space 3}0.870{col 55}{space 4}-.0128855{col 68}{space 3} .0152202
{txt}{space 8}2010  {c |}{col 15}{res}{space 2}-.0009436{col 27}{space 2} .0082997{col 38}{space 1}   -0.11{col 47}{space 3}0.910{col 55}{space 4} -.017257{col 68}{space 3} .0153697
{txt}{space 8}2011  {c |}{col 15}{res}{space 2} .0019128{col 27}{space 2} .0096678{col 38}{space 1}    0.20{col 47}{space 3}0.843{col 55}{space 4}-.0170896{col 68}{space 3} .0209151
{txt}{space 8}2012  {c |}{col 15}{res}{space 2} .0111666{col 27}{space 2} .0107838{col 38}{space 1}    1.04{col 47}{space 3}0.301{col 55}{space 4}-.0100293{col 68}{space 3} .0323626
{txt}{space 8}2013  {c |}{col 15}{res}{space 2} .0176554{col 27}{space 2} .0116862{col 38}{space 1}    1.51{col 47}{space 3}0.132{col 55}{space 4}-.0053143{col 68}{space 3}  .040625
{txt}{space 8}2014  {c |}{col 15}{res}{space 2} .0213382{col 27}{space 2} .0126268{col 38}{space 1}    1.69{col 47}{space 3}0.092{col 55}{space 4}-.0034802{col 68}{space 3} .0461566
{txt}{space 8}2015  {c |}{col 15}{res}{space 2} .0288018{col 27}{space 2} .0131906{col 38}{space 1}    2.18{col 47}{space 3}0.030{col 55}{space 4} .0028753{col 68}{space 3} .0547283
{txt}{space 8}2016  {c |}{col 15}{res}{space 2} .0290706{col 27}{space 2} .0139708{col 38}{space 1}    2.08{col 47}{space 3}0.038{col 55}{space 4} .0016106{col 68}{space 3} .0565307
{txt}{space 8}2017  {c |}{col 15}{res}{space 2}  .034718{col 27}{space 2} .0148907{col 38}{space 1}    2.33{col 47}{space 3}0.020{col 55}{space 4} .0054498{col 68}{space 3} .0639861
{txt}{space 8}2018  {c |}{col 15}{res}{space 2} .0343869{col 27}{space 2} .0159333{col 38}{space 1}    2.16{col 47}{space 3}0.031{col 55}{space 4} .0030695{col 68}{space 3} .0657042
{txt}{space 8}2019  {c |}{col 15}{res}{space 2} .0422326{col 27}{space 2}  .016789{col 38}{space 1}    2.52{col 47}{space 3}0.012{col 55}{space 4} .0092333{col 68}{space 3}  .075232
{txt}{space 13} {c |}
{space 8}_cons {c |}{col 15}{res}{space 2} .2025156{col 27}{space 2} .0420309{col 38}{space 1}    4.82{col 47}{space 3}0.000{col 55}{space 4} .1199025{col 68}{space 3} .2851288
{txt}{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
      sigma_u {c |} {res} .02447566
      {txt}sigma_e {c |} {res} .01232702
          {txt}rho {c |} {res} .79766621{txt}   (fraction of variance due to u_i)
{hline 14}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}427{txt}) = {res}38.81{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto b2

. 
. xtreg  f1.LGQ  pftz c.pftzsecond#c.pftz c.pftzthird#c.pftz c.pftzforth#c.pftz  open urban inds gdpd dig,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9322{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8918{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8926{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}9{txt}, {res}441{txt}){col 67}={col 70}{res}   673.85
{txt}corr(u_i, Xb) = {res}-0.5711{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}              F.LGQ{col 21}{c |} Coefficient{col 33}  Std. err.{col 45}      t{col 53}   P>|t|{col 61}     [95% con{col 74}f. interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 15}pftz {c |}{col 21}{res}{space 2} .0380409{col 33}{space 2} .0077546{col 44}{space 1}    4.91{col 53}{space 3}0.000{col 61}{space 4} .0228003{col 74}{space 3} .0532815
{txt}{space 19} {c |}
c.pftzsecond#c.pftz {c |}{col 21}{res}{space 2}-.0205953{col 33}{space 2} .0080692{col 44}{space 1}   -2.55{col 53}{space 3}0.011{col 61}{space 4}-.0364542{col 74}{space 3}-.0047365
{txt}{space 19} {c |}
{space 1}c.pftzthird#c.pftz {c |}{col 21}{res}{space 2}-.0336041{col 33}{space 2} .0085177{col 44}{space 1}   -3.95{col 53}{space 3}0.000{col 61}{space 4}-.0503444{col 74}{space 3}-.0168638
{txt}{space 19} {c |}
{space 1}c.pftzforth#c.pftz {c |}{col 21}{res}{space 2}-.0310324{col 33}{space 2} .0091204{col 44}{space 1}   -3.40{col 53}{space 3}0.001{col 61}{space 4}-.0489573{col 74}{space 3}-.0131075
{txt}{space 19} {c |}
{space 15}open {c |}{col 21}{res}{space 2}-.0019917{col 33}{space 2} .0133549{col 44}{space 1}   -0.15{col 53}{space 3}0.882{col 61}{space 4}-.0282388{col 74}{space 3} .0242554
{txt}{space 14}urban {c |}{col 21}{res}{space 2} .1040314{col 33}{space 2} .0189667{col 44}{space 1}    5.48{col 53}{space 3}0.000{col 61}{space 4}  .066755{col 74}{space 3} .1413078
{txt}{space 15}inds {c |}{col 21}{res}{space 2} .0018669{col 33}{space 2} .0014906{col 44}{space 1}    1.25{col 53}{space 3}0.211{col 61}{space 4}-.0010626{col 74}{space 3} .0047964
{txt}{space 15}gdpd {c |}{col 21}{res}{space 2} .0435644{col 33}{space 2}  .003622{col 44}{space 1}   12.03{col 53}{space 3}0.000{col 61}{space 4}  .036446{col 74}{space 3} .0506829
{txt}{space 16}dig {c |}{col 21}{res}{space 2} .0570741{col 33}{space 2}  .008491{col 44}{space 1}    6.72{col 53}{space 3}0.000{col 61}{space 4} .0403862{col 74}{space 3}  .073762
{txt}{space 14}_cons {c |}{col 21}{res}{space 2} .1261787{col 33}{space 2} .0207413{col 44}{space 1}    6.08{col 53}{space 3}0.000{col 61}{space 4} .0854146{col 74}{space 3} .1669429
{txt}{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
            sigma_u {c |} {res} .02931601
            {txt}sigma_e {c |} {res}  .0132154
                {txt}rho {c |} {res} .83110818{txt}   (fraction of variance due to u_i)
{hline 20}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}441{txt}) = {res}36.83{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto b3

. 
. xtreg  f1.LGQ pftz c.pftzsecond#c.pftz c.pftzthird#c.pftz c.pftzforth#c.pftz  open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9441{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8652{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8915{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}24{txt}, {res}426{txt}){col 67}={col 70}{res}   299.71
{txt}corr(u_i, Xb) = {res}-0.1860{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 20}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}              F.LGQ{col 21}{c |} Coefficient{col 33}  Std. err.{col 45}      t{col 53}   P>|t|{col 61}     [95% con{col 74}f. interval]
{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 15}pftz {c |}{col 21}{res}{space 2} .0314223{col 33}{space 2} .0073196{col 44}{space 1}    4.29{col 53}{space 3}0.000{col 61}{space 4} .0170353{col 74}{space 3} .0458092
{txt}{space 19} {c |}
c.pftzsecond#c.pftz {c |}{col 21}{res}{space 2}-.0279822{col 33}{space 2} .0075825{col 44}{space 1}   -3.69{col 53}{space 3}0.000{col 61}{space 4}-.0428859{col 74}{space 3}-.0130784
{txt}{space 19} {c |}
{space 1}c.pftzthird#c.pftz {c |}{col 21}{res}{space 2}-.0301619{col 33}{space 2}  .008145{col 44}{space 1}   -3.70{col 53}{space 3}0.000{col 61}{space 4}-.0461713{col 74}{space 3}-.0141525
{txt}{space 19} {c |}
{space 1}c.pftzforth#c.pftz {c |}{col 21}{res}{space 2}-.0284206{col 33}{space 2} .0088075{col 44}{space 1}   -3.23{col 53}{space 3}0.001{col 61}{space 4}-.0457323{col 74}{space 3}-.0111089
{txt}{space 19} {c |}
{space 15}open {c |}{col 21}{res}{space 2}-.0251347{col 33}{space 2} .0132913{col 44}{space 1}   -1.89{col 53}{space 3}0.059{col 61}{space 4}-.0512595{col 74}{space 3}   .00099
{txt}{space 14}urban {c |}{col 21}{res}{space 2}-.0088913{col 33}{space 2} .0259236{col 44}{space 1}   -0.34{col 53}{space 3}0.732{col 61}{space 4}-.0598454{col 74}{space 3} .0420629
{txt}{space 15}inds {c |}{col 21}{res}{space 2}  .001195{col 33}{space 2} .0014066{col 44}{space 1}    0.85{col 53}{space 3}0.396{col 61}{space 4}-.0015696{col 74}{space 3} .0039597
{txt}{space 15}gdpd {c |}{col 21}{res}{space 2} .0427544{col 33}{space 2} .0062129{col 44}{space 1}    6.88{col 53}{space 3}0.000{col 61}{space 4} .0305426{col 74}{space 3} .0549662
{txt}{space 16}dig {c |}{col 21}{res}{space 2} .0250389{col 33}{space 2} .0103871{col 44}{space 1}    2.41{col 53}{space 3}0.016{col 61}{space 4} .0046225{col 74}{space 3} .0454553
{txt}{space 19} {c |}
{space 15}year {c |}
{space 14}2005  {c |}{col 21}{res}{space 2} .0016878{col 33}{space 2} .0035918{col 44}{space 1}    0.47{col 53}{space 3}0.639{col 61}{space 4} -.005372{col 74}{space 3} .0087476
{txt}{space 14}2006  {c |}{col 21}{res}{space 2}-.0009248{col 33}{space 2} .0041431{col 44}{space 1}   -0.22{col 53}{space 3}0.823{col 61}{space 4}-.0090682{col 74}{space 3} .0072186
{txt}{space 14}2007  {c |}{col 21}{res}{space 2}-.0022847{col 33}{space 2} .0050035{col 44}{space 1}   -0.46{col 53}{space 3}0.648{col 61}{space 4}-.0121194{col 74}{space 3}   .00755
{txt}{space 14}2008  {c |}{col 21}{res}{space 2}-.0015137{col 33}{space 2} .0056782{col 44}{space 1}   -0.27{col 53}{space 3}0.790{col 61}{space 4}-.0126745{col 74}{space 3} .0096471
{txt}{space 14}2009  {c |}{col 21}{res}{space 2} .0011912{col 33}{space 2} .0067788{col 44}{space 1}    0.18{col 53}{space 3}0.861{col 61}{space 4}-.0121328{col 74}{space 3} .0145152
{txt}{space 14}2010  {c |}{col 21}{res}{space 2}-.0011123{col 33}{space 2} .0078444{col 44}{space 1}   -0.14{col 53}{space 3}0.887{col 61}{space 4}-.0165309{col 74}{space 3} .0143063
{txt}{space 14}2011  {c |}{col 21}{res}{space 2} .0017557{col 33}{space 2} .0091262{col 44}{space 1}    0.19{col 53}{space 3}0.848{col 61}{space 4}-.0161822{col 74}{space 3} .0196937
{txt}{space 14}2012  {c |}{col 21}{res}{space 2} .0112728{col 33}{space 2}  .010193{col 44}{space 1}    1.11{col 53}{space 3}0.269{col 61}{space 4} -.008762{col 74}{space 3} .0313077
{txt}{space 14}2013  {c |}{col 21}{res}{space 2} .0172336{col 33}{space 2} .0110601{col 44}{space 1}    1.56{col 53}{space 3}0.120{col 61}{space 4}-.0045055{col 74}{space 3} .0389727
{txt}{space 14}2014  {c |}{col 21}{res}{space 2} .0211359{col 33}{space 2} .0119572{col 44}{space 1}    1.77{col 53}{space 3}0.078{col 61}{space 4}-.0023666{col 74}{space 3} .0446385
{txt}{space 14}2015  {c |}{col 21}{res}{space 2} .0294123{col 33}{space 2} .0125036{col 44}{space 1}    2.35{col 53}{space 3}0.019{col 61}{space 4} .0048359{col 74}{space 3} .0539887
{txt}{space 14}2016  {c |}{col 21}{res}{space 2} .0299099{col 33}{space 2} .0132444{col 44}{space 1}    2.26{col 53}{space 3}0.024{col 61}{space 4} .0038773{col 74}{space 3} .0559425
{txt}{space 14}2017  {c |}{col 21}{res}{space 2} .0358788{col 33}{space 2}  .014135{col 44}{space 1}    2.54{col 53}{space 3}0.011{col 61}{space 4} .0080957{col 74}{space 3} .0636618
{txt}{space 14}2018  {c |}{col 21}{res}{space 2} .0362408{col 33}{space 2} .0151487{col 44}{space 1}    2.39{col 53}{space 3}0.017{col 61}{space 4} .0064652{col 74}{space 3} .0660164
{txt}{space 14}2019  {c |}{col 21}{res}{space 2} .0440456{col 33}{space 2} .0158783{col 44}{space 1}    2.77{col 53}{space 3}0.006{col 61}{space 4}  .012836{col 74}{space 3} .0752552
{txt}{space 19} {c |}
{space 14}_cons {c |}{col 21}{res}{space 2} .1957984{col 33}{space 2} .0394155{col 44}{space 1}    4.97{col 53}{space 3}0.000{col 61}{space 4} .1183254{col 74}{space 3} .2732715
{txt}{hline 20}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
            sigma_u {c |} {res} .02525273
            {txt}sigma_e {c |} {res} .01221167
                {txt}rho {c |} {res} .81047269{txt}   (fraction of variance due to u_i)
{hline 20}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}426{txt}) = {res}40.31{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto b4

. 
. esttab b* using b.rtf,keep(pftz c.coaa#c.pftz c.coab#c.pftz  c.pftzsecond#c.pftz c.pftzthird#c.pftz c.pftzforth#c.pftz  _cons) order(pftz c.coaa#c.pftz c.coab#c.pftz  c.pftzsecond#c.pftz c.pftzthird#c.pftz c.pftzforth#c.pftz _cons) star(* 0.1 ** 0.05 *** 0.01) b(%6.3f) se(%6.3f) nogaps r2
{res}{txt}(output written to {browse  `"b.rtf"'})

{com}. xtreg mkt pftz open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       510
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.7594{col 63}{txt}min{col 67}={col 69}{res}        17
{txt}     Between = {res}0.2416{col 63}{txt}avg{col 67}={col 69}{res}      17.0
{txt}     Overall = {res}0.2456{col 63}{txt}max{col 67}={col 69}{res}        17

{txt}{col 49}F({res}22{txt}, {res}458{txt}){col 67}={col 70}{res}    65.71
{txt}corr(u_i, Xb) = {res}-0.9195{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}         mkt{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2} .5843618{col 26}{space 2} .1519211{col 37}{space 1}    3.85{col 46}{space 3}0.000{col 54}{space 4} .2858129{col 67}{space 3} .8829107
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0578998{col 26}{space 2} .6405604{col 37}{space 1}   -0.09{col 46}{space 3}0.928{col 54}{space 4}-1.316702{col 67}{space 3} 1.200902
{txt}{space 7}urban {c |}{col 14}{res}{space 2} .1678834{col 26}{space 2} 1.543216{col 37}{space 1}    0.11{col 46}{space 3}0.913{col 54}{space 4}-2.864778{col 67}{space 3} 3.200544
{txt}{space 8}inds {c |}{col 14}{res}{space 2}-.1304997{col 26}{space 2} .0865758{col 37}{space 1}   -1.51{col 46}{space 3}0.132{col 54}{space 4}-.3006348{col 67}{space 3} .0396355
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} 2.980548{col 26}{space 2} .3381573{col 37}{space 1}    8.81{col 46}{space 3}0.000{col 54}{space 4} 2.316016{col 67}{space 3}  3.64508
{txt}{space 9}dig {c |}{col 14}{res}{space 2}-.7052504{col 26}{space 2} .5966657{col 37}{space 1}   -1.18{col 46}{space 3}0.238{col 54}{space 4}-1.877792{col 67}{space 3} .4672914
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2}  .191174{col 26}{space 2} .2212573{col 37}{space 1}    0.86{col 46}{space 3}0.388{col 54}{space 4}-.2436314{col 67}{space 3} .6259793
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .1217378{col 26}{space 2} .2488521{col 37}{space 1}    0.49{col 46}{space 3}0.625{col 54}{space 4}-.3672956{col 67}{space 3} .6107713
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.2429886{col 26}{space 2} .2939208{col 37}{space 1}   -0.83{col 46}{space 3}0.409{col 54}{space 4}-.8205891{col 67}{space 3} .3346119
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-1.466618{col 26}{space 2}  .329309{col 37}{space 1}   -4.45{col 46}{space 3}0.000{col 54}{space 4}-2.113762{col 67}{space 3}-.8194745
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} -1.76916{col 26}{space 2} .3930641{col 37}{space 1}   -4.50{col 46}{space 3}0.000{col 54}{space 4}-2.541592{col 67}{space 3}-.9967269
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-2.281816{col 26}{space 2} .4514397{col 37}{space 1}   -5.05{col 46}{space 3}0.000{col 54}{space 4}-3.168965{col 67}{space 3}-1.394666
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-2.782297{col 26}{space 2} .5233364{col 37}{space 1}   -5.32{col 46}{space 3}0.000{col 54}{space 4}-3.810735{col 67}{space 3}-1.753859
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}-3.040893{col 26}{space 2} .5844435{col 37}{space 1}   -5.20{col 46}{space 3}0.000{col 54}{space 4}-4.189416{col 67}{space 3} -1.89237
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}-3.297331{col 26}{space 2} .6332609{col 37}{space 1}   -5.21{col 46}{space 3}0.000{col 54}{space 4}-4.541788{col 67}{space 3}-2.052874
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}-3.350403{col 26}{space 2} .6832197{col 37}{space 1}   -4.90{col 46}{space 3}0.000{col 54}{space 4}-4.693037{col 67}{space 3}-2.007769
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}-3.550717{col 26}{space 2} .7104142{col 37}{space 1}   -5.00{col 46}{space 3}0.000{col 54}{space 4}-4.946792{col 67}{space 3}-2.154641
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}-4.371254{col 26}{space 2} .7530062{col 37}{space 1}   -5.81{col 46}{space 3}0.000{col 54}{space 4} -5.85103{col 67}{space 3}-2.891478
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}-4.677337{col 26}{space 2} .8082825{col 37}{space 1}   -5.79{col 46}{space 3}0.000{col 54}{space 4}-6.265739{col 67}{space 3}-3.088935
{txt}{space 7}2018  {c |}{col 14}{res}{space 2}-4.812706{col 26}{space 2} .8670319{col 37}{space 1}   -5.55{col 46}{space 3}0.000{col 54}{space 4} -6.51656{col 67}{space 3}-3.108852
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}-8.381939{col 26}{space 2} .9065786{col 37}{space 1}   -9.25{col 46}{space 3}0.000{col 54}{space 4}-10.16351{col 67}{space 3}-6.600369
{txt}{space 7}2020  {c |}{col 14}{res}{space 2}-8.412154{col 26}{space 2} .9179499{col 37}{space 1}   -9.16{col 46}{space 3}0.000{col 54}{space 4}-10.21607{col 67}{space 3}-6.608238
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}-8.450416{col 26}{space 2} 2.165048{col 37}{space 1}   -3.90{col 46}{space 3}0.000{col 54}{space 4}-12.70508{col 67}{space 3}-4.195756
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res}  4.121605
     {txt}sigma_e {c |} {res}  .7707209
         {txt}rho {c |} {res} .96621414{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}458{txt}) = {res}25.76{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto e1

. 
. xtreg f1.LGQ mkt pftz open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9425{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8514{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8813{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}22{txt}, {res}428{txt}){col 67}={col 70}{res}   318.94
{txt}corr(u_i, Xb) = {res}0.1748{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}mkt {c |}{col 14}{res}{space 2} .0016706{col 26}{space 2}  .000858{col 37}{space 1}    1.95{col 46}{space 3}0.052{col 54}{space 4}-.0000158{col 67}{space 3}  .003357
{txt}{space 8}pftz {c |}{col 14}{res}{space 2} .0039643{col 26}{space 2} .0027261{col 37}{space 1}    1.45{col 46}{space 3}0.147{col 54}{space 4} -.001394{col 67}{space 3} .0093226
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0439536{col 26}{space 2} .0109301{col 37}{space 1}   -4.02{col 46}{space 3}0.000{col 54}{space 4} -.065437{col 67}{space 3}-.0224703
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0072356{col 26}{space 2}  .025831{col 37}{space 1}   -0.28{col 46}{space 3}0.780{col 54}{space 4} -.058007{col 67}{space 3} .0435358
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0018271{col 26}{space 2} .0014182{col 37}{space 1}    1.29{col 46}{space 3}0.198{col 54}{space 4}-.0009604{col 67}{space 3} .0046145
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0359239{col 26}{space 2} .0066195{col 37}{space 1}    5.43{col 46}{space 3}0.000{col 54}{space 4} .0229132{col 67}{space 3} .0489346
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0261965{col 26}{space 2} .0101451{col 37}{space 1}    2.58{col 46}{space 3}0.010{col 54}{space 4}  .006256{col 67}{space 3} .0461371
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0016758{col 26}{space 2} .0036273{col 37}{space 1}    0.46{col 46}{space 3}0.644{col 54}{space 4}-.0054538{col 67}{space 3} .0088053
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.0002909{col 26}{space 2} .0041569{col 37}{space 1}   -0.07{col 46}{space 3}0.944{col 54}{space 4}-.0084614{col 67}{space 3} .0078796
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0006511{col 26}{space 2}     .005{col 37}{space 1}   -0.13{col 46}{space 3}0.896{col 54}{space 4}-.0104788{col 67}{space 3} .0091766
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}  .002247{col 26}{space 2} .0057985{col 37}{space 1}    0.39{col 46}{space 3}0.699{col 54}{space 4}  -.00915{col 67}{space 3}  .013644
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0045023{col 26}{space 2}  .006948{col 37}{space 1}    0.65{col 46}{space 3}0.517{col 54}{space 4}-.0091541{col 67}{space 3} .0181588
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0036851{col 26}{space 2} .0080645{col 37}{space 1}    0.46{col 46}{space 3}0.648{col 54}{space 4}-.0121657{col 67}{space 3}  .019536
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0076913{col 26}{space 2} .0093977{col 37}{space 1}    0.82{col 46}{space 3}0.414{col 54}{space 4}-.0107801{col 67}{space 3} .0261627
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0177287{col 26}{space 2} .0104746{col 37}{space 1}    1.69{col 46}{space 3}0.091{col 54}{space 4}-.0028592{col 67}{space 3} .0383167
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0250223{col 26}{space 2} .0113465{col 37}{space 1}    2.21{col 46}{space 3}0.028{col 54}{space 4} .0027206{col 67}{space 3}  .047324
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0290838{col 26}{space 2} .0122153{col 37}{space 1}    2.38{col 46}{space 3}0.018{col 54}{space 4} .0050744{col 67}{space 3} .0530933
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0372972{col 26}{space 2} .0127373{col 37}{space 1}    2.93{col 46}{space 3}0.004{col 54}{space 4} .0122619{col 67}{space 3} .0623326
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0389687{col 26}{space 2} .0136207{col 37}{space 1}    2.86{col 46}{space 3}0.004{col 54}{space 4} .0121969{col 67}{space 3} .0657404
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0447268{col 26}{space 2} .0145964{col 37}{space 1}    3.06{col 46}{space 3}0.002{col 54}{space 4} .0160373{col 67}{space 3} .0734162
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0452313{col 26}{space 2} .0155903{col 37}{space 1}    2.90{col 46}{space 3}0.004{col 54}{space 4} .0145881{col 67}{space 3} .0758744
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0586851{col 26}{space 2}  .017208{col 37}{space 1}    3.41{col 46}{space 3}0.001{col 54}{space 4} .0248624{col 67}{space 3} .0925079
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2227842{col 26}{space 2} .0397729{col 37}{space 1}    5.60{col 46}{space 3}0.000{col 54}{space 4} .1446097{col 67}{space 3} .3009586
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02653321
     {txt}sigma_e {c |} {res} .01235387
         {txt}rho {c |} {res} .82183889{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}428{txt}) = {res}36.25{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto e2

. 
. xtreg rtl pftz open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       510
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.0853{col 63}{txt}min{col 67}={col 69}{res}        17
{txt}     Between = {res}0.5460{col 63}{txt}avg{col 67}={col 69}{res}      17.0
{txt}     Overall = {res}0.2941{col 63}{txt}max{col 67}={col 69}{res}        17

{txt}{col 49}F({res}22{txt}, {res}458{txt}){col 67}={col 70}{res}     1.94
{txt}corr(u_i, Xb) = {res}-0.8432{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0068

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}         rtl{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2} 1.434213{col 26}{space 2} .7059318{col 37}{space 1}    2.03{col 46}{space 3}0.043{col 54}{space 4} .0469461{col 67}{space 3}  2.82148
{txt}{space 8}open {c |}{col 14}{res}{space 2}-2.589253{col 26}{space 2} 2.976491{col 37}{space 1}   -0.87{col 46}{space 3}0.385{col 54}{space 4}-8.438527{col 67}{space 3}  3.26002
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-2.201095{col 26}{space 2} 7.170858{col 37}{space 1}   -0.31{col 46}{space 3}0.759{col 54}{space 4}-16.29296{col 67}{space 3} 11.89077
{txt}{space 8}inds {c |}{col 14}{res}{space 2} -.839692{col 26}{space 2} .4022919{col 37}{space 1}   -2.09{col 46}{space 3}0.037{col 54}{space 4}-1.630259{col 67}{space 3}-.0491253
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2}-1.814318{col 26}{space 2} 1.571315{col 37}{space 1}   -1.15{col 46}{space 3}0.249{col 54}{space 4}  -4.9022{col 67}{space 3} 1.273563
{txt}{space 9}dig {c |}{col 14}{res}{space 2} 1.199197{col 26}{space 2} 2.772526{col 37}{space 1}    0.43{col 46}{space 3}0.666{col 54}{space 4}-4.249252{col 67}{space 3} 6.647647
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .1728516{col 26}{space 2} 1.028116{col 37}{space 1}    0.17{col 46}{space 3}0.867{col 54}{space 4}-1.847558{col 67}{space 3} 2.193261
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .5938187{col 26}{space 2} 1.156341{col 37}{space 1}    0.51{col 46}{space 3}0.608{col 54}{space 4}-1.678572{col 67}{space 3}  2.86621
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .6207305{col 26}{space 2} 1.365761{col 37}{space 1}    0.45{col 46}{space 3}0.650{col 54}{space 4}-2.063205{col 67}{space 3} 3.304666
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} 1.082006{col 26}{space 2}   1.5302{col 37}{space 1}    0.71{col 46}{space 3}0.480{col 54}{space 4}-1.925077{col 67}{space 3} 4.089089
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} 1.185951{col 26}{space 2} 1.826451{col 37}{space 1}    0.65{col 46}{space 3}0.516{col 54}{space 4}-2.403311{col 67}{space 3} 4.775214
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} 1.269271{col 26}{space 2} 2.097704{col 37}{space 1}    0.61{col 46}{space 3}0.545{col 54}{space 4}-2.853048{col 67}{space 3} 5.391589
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} 1.520754{col 26}{space 2} 2.431787{col 37}{space 1}    0.63{col 46}{space 3}0.532{col 54}{space 4}-3.258089{col 67}{space 3} 6.299598
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} 1.587822{col 26}{space 2} 2.715733{col 37}{space 1}    0.58{col 46}{space 3}0.559{col 54}{space 4} -3.74902{col 67}{space 3} 6.924665
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} 1.900371{col 26}{space 2} 2.942573{col 37}{space 1}    0.65{col 46}{space 3}0.519{col 54}{space 4}-3.882247{col 67}{space 3}  7.68299
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} 1.986106{col 26}{space 2} 3.174716{col 37}{space 1}    0.63{col 46}{space 3}0.532{col 54}{space 4} -4.25271{col 67}{space 3} 8.224922
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}  2.27892{col 26}{space 2} 3.301081{col 37}{space 1}    0.69{col 46}{space 3}0.490{col 54}{space 4}-4.208223{col 67}{space 3} 8.766063
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} 2.691369{col 26}{space 2} 3.498994{col 37}{space 1}    0.77{col 46}{space 3}0.442{col 54}{space 4}-4.184703{col 67}{space 3} 9.567441
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} 2.935187{col 26}{space 2} 3.755846{col 37}{space 1}    0.78{col 46}{space 3}0.435{col 54}{space 4} -4.44564{col 67}{space 3} 10.31601
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} 3.627798{col 26}{space 2} 4.028836{col 37}{space 1}    0.90{col 46}{space 3}0.368{col 54}{space 4}-4.289499{col 67}{space 3} 11.54509
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} 3.510718{col 26}{space 2} 4.212598{col 37}{space 1}    0.83{col 46}{space 3}0.405{col 54}{space 4}-4.767698{col 67}{space 3} 11.78914
{txt}{space 7}2020  {c |}{col 14}{res}{space 2} 5.649594{col 26}{space 2} 4.265437{col 37}{space 1}    1.32{col 46}{space 3}0.186{col 54}{space 4} -2.73266{col 67}{space 3} 14.03185
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 17.12168{col 26}{space 2} 10.06033{col 37}{space 1}    1.70{col 46}{space 3}0.089{col 54}{space 4}-2.648443{col 67}{space 3} 36.89181
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 8.2982407
     {txt}sigma_e {c |} {res} 3.5813082
         {txt}rho {c |} {res} .84298803{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}458{txt}) = {res}12.49{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto e3

. 
. xtreg f1.LGQ rtl pftz open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9436{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8601{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8882{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}22{txt}, {res}428{txt}){col 67}={col 70}{res}   325.68
{txt}corr(u_i, Xb) = {res}-0.1684{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}rtl {c |}{col 14}{res}{space 2} .0007232{col 26}{space 2} .0002054{col 37}{space 1}    3.52{col 46}{space 3}0.000{col 54}{space 4} .0003195{col 67}{space 3} .0011269
{txt}{space 8}pftz {c |}{col 14}{res}{space 2}  .003714{col 26}{space 2} .0026877{col 37}{space 1}    1.38{col 46}{space 3}0.168{col 54}{space 4}-.0015687{col 67}{space 3} .0089966
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0445442{col 26}{space 2} .0108237{col 37}{space 1}   -4.12{col 46}{space 3}0.000{col 54}{space 4}-.0658185{col 67}{space 3}-.0232699
{txt}{space 7}urban {c |}{col 14}{res}{space 2} -.006327{col 26}{space 2} .0255793{col 37}{space 1}   -0.25{col 46}{space 3}0.805{col 54}{space 4}-.0566037{col 67}{space 3} .0439496
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0022144{col 26}{space 2} .0014105{col 37}{space 1}    1.57{col 46}{space 3}0.117{col 54}{space 4} -.000558{col 67}{space 3} .0049867
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0424283{col 26}{space 2} .0061932{col 37}{space 1}    6.85{col 46}{space 3}0.000{col 54}{space 4} .0302554{col 67}{space 3} .0546011
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0235628{col 26}{space 2} .0100565{col 37}{space 1}    2.34{col 46}{space 3}0.020{col 54}{space 4} .0037964{col 67}{space 3} .0433291
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0018889{col 26}{space 2} .0035856{col 37}{space 1}    0.53{col 46}{space 3}0.599{col 54}{space 4}-.0051586{col 67}{space 3} .0089365
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.0004709{col 26}{space 2} .0041149{col 37}{space 1}   -0.11{col 46}{space 3}0.909{col 54}{space 4}-.0085588{col 67}{space 3} .0076171
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0014533{col 26}{space 2} .0049532{col 37}{space 1}   -0.29{col 46}{space 3}0.769{col 54}{space 4} -.011189{col 67}{space 3} .0082824
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.0010189{col 26}{space 2} .0056499{col 37}{space 1}   -0.18{col 46}{space 3}0.857{col 54}{space 4}-.0121239{col 67}{space 3} .0100861
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0005647{col 26}{space 2} .0067707{col 37}{space 1}    0.08{col 46}{space 3}0.934{col 54}{space 4}-.0127431{col 67}{space 3} .0138726
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.0011436{col 26}{space 2} .0078152{col 37}{space 1}   -0.15{col 46}{space 3}0.884{col 54}{space 4}-.0165046{col 67}{space 3} .0142174
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0018507{col 26}{space 2} .0090818{col 37}{space 1}    0.20{col 46}{space 3}0.839{col 54}{space 4}-.0159997{col 67}{space 3} .0197012
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0114401{col 26}{space 2} .0101273{col 37}{space 1}    1.13{col 46}{space 3}0.259{col 54}{space 4}-.0084654{col 67}{space 3} .0313456
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0180948{col 26}{space 2} .0109694{col 37}{space 1}    1.65{col 46}{space 3}0.100{col 54}{space 4}-.0034658{col 67}{space 3} .0396553
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0220397{col 26}{space 2} .0118451{col 37}{space 1}    1.86{col 46}{space 3}0.063{col 54}{space 4}-.0012422{col 67}{space 3} .0453216
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0296996{col 26}{space 2} .0123508{col 37}{space 1}    2.40{col 46}{space 3}0.017{col 54}{space 4} .0054238{col 67}{space 3} .0539755
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0296937{col 26}{space 2} .0130954{col 37}{space 1}    2.27{col 46}{space 3}0.024{col 54}{space 4} .0039543{col 67}{space 3} .0554331
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0348564{col 26}{space 2} .0140361{col 37}{space 1}    2.48{col 46}{space 3}0.013{col 54}{space 4} .0072681{col 67}{space 3} .0624447
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0346941{col 26}{space 2} .0150261{col 37}{space 1}    2.31{col 46}{space 3}0.021{col 54}{space 4}   .00516{col 67}{space 3} .0642282
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0423186{col 26}{space 2} .0157174{col 37}{space 1}    2.69{col 46}{space 3}0.007{col 54}{space 4} .0114257{col 67}{space 3} .0732115
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .1961247{col 26}{space 2} .0392477{col 37}{space 1}    5.00{col 46}{space 3}0.000{col 54}{space 4} .1189824{col 67}{space 3}  .273267
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02560545
     {txt}sigma_e {c |} {res} .01223258
         {txt}rho {c |} {res} .81418017{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}428{txt}) = {res}38.06{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto e4

. 
. xtreg tal pftz open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       510
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.8557{col 63}{txt}min{col 67}={col 69}{res}        17
{txt}     Between = {res}0.2406{col 63}{txt}avg{col 67}={col 69}{res}      17.0
{txt}     Overall = {res}0.3075{col 63}{txt}max{col 67}={col 69}{res}        17

{txt}{col 49}F({res}22{txt}, {res}458{txt}){col 67}={col 70}{res}   123.49
{txt}corr(u_i, Xb) = {res}0.0426{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}         tal{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 8}pftz {c |}{col 14}{res}{space 2} .2946716{col 26}{space 2} .1375616{col 37}{space 1}    2.14{col 46}{space 3}0.033{col 54}{space 4} .0243414{col 67}{space 3} .5650018
{txt}{space 8}open {c |}{col 14}{res}{space 2} 5.252394{col 26}{space 2}  .580015{col 37}{space 1}    9.06{col 46}{space 3}0.000{col 54}{space 4} 4.112574{col 67}{space 3} 6.392215
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-3.954894{col 26}{space 2} 1.397352{col 37}{space 1}   -2.83{col 46}{space 3}0.005{col 54}{space 4}-6.700909{col 67}{space 3}-1.208878
{txt}{space 8}inds {c |}{col 14}{res}{space 2}-.0776894{col 26}{space 2} .0783927{col 37}{space 1}   -0.99{col 46}{space 3}0.322{col 54}{space 4}-.2317434{col 67}{space 3} .0763646
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .7368469{col 26}{space 2} .3061949{col 37}{space 1}    2.41{col 46}{space 3}0.017{col 54}{space 4} .1351259{col 67}{space 3} 1.338568
{txt}{space 9}dig {c |}{col 14}{res}{space 2} 3.724272{col 26}{space 2} .5402692{col 37}{space 1}    6.89{col 46}{space 3}0.000{col 54}{space 4} 2.662558{col 67}{space 3} 4.785986
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .6418165{col 26}{space 2} .2003442{col 37}{space 1}    3.20{col 46}{space 3}0.001{col 54}{space 4} .2481087{col 67}{space 3} 1.035524
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .8804523{col 26}{space 2} .2253307{col 37}{space 1}    3.91{col 46}{space 3}0.000{col 54}{space 4} .4376421{col 67}{space 3} 1.323263
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} 1.177313{col 26}{space 2} .2661395{col 37}{space 1}    4.42{col 46}{space 3}0.000{col 54}{space 4} .6543067{col 67}{space 3} 1.700319
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} 1.309625{col 26}{space 2} .2981829{col 37}{space 1}    4.39{col 46}{space 3}0.000{col 54}{space 4} .7236488{col 67}{space 3} 1.895601
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} 1.717471{col 26}{space 2} .3559119{col 37}{space 1}    4.83{col 46}{space 3}0.000{col 54}{space 4} 1.018049{col 67}{space 3} 2.416894
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} 1.420366{col 26}{space 2} .4087698{col 37}{space 1}    3.47{col 46}{space 3}0.001{col 54}{space 4} .6170688{col 67}{space 3} 2.223663
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}  1.23735{col 26}{space 2}  .473871{col 37}{space 1}    2.61{col 46}{space 3}0.009{col 54}{space 4} .3061195{col 67}{space 3} 2.168581
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} 1.007209{col 26}{space 2} .5292022{col 37}{space 1}    1.90{col 46}{space 3}0.058{col 54}{space 4}-.0327569{col 67}{space 3} 2.047174
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} 1.160582{col 26}{space 2} .5734054{col 37}{space 1}    2.02{col 46}{space 3}0.044{col 54}{space 4} .0337498{col 67}{space 3} 2.287413
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} 1.328652{col 26}{space 2} .6186421{col 37}{space 1}    2.15{col 46}{space 3}0.032{col 54}{space 4} .1129228{col 67}{space 3} 2.544381
{txt}{space 7}2015  {c |}{col 14}{res}{space 2}  1.66547{col 26}{space 2} .6432662{col 37}{space 1}    2.59{col 46}{space 3}0.010{col 54}{space 4}  .401351{col 67}{space 3} 2.929589
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}  1.70718{col 26}{space 2} .6818325{col 37}{space 1}    2.50{col 46}{space 3}0.013{col 54}{space 4} .3672723{col 67}{space 3} 3.047088
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} 1.583044{col 26}{space 2} .7318841{col 37}{space 1}    2.16{col 46}{space 3}0.031{col 54}{space 4} .1447764{col 67}{space 3} 3.021311
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} 1.453922{col 26}{space 2} .7850805{col 37}{space 1}    1.85{col 46}{space 3}0.065{col 54}{space 4}-.0888845{col 67}{space 3} 2.996729
{txt}{space 7}2019  {c |}{col 14}{res}{space 2}  1.81758{col 26}{space 2} .8208892{col 37}{space 1}    2.21{col 46}{space 3}0.027{col 54}{space 4} .2044038{col 67}{space 3} 3.430756
{txt}{space 7}2020  {c |}{col 14}{res}{space 2} 2.537973{col 26}{space 2} .8311858{col 37}{space 1}    3.05{col 46}{space 3}0.002{col 54}{space 4} .9045623{col 67}{space 3} 4.171383
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2}    3.032{col 26}{space 2} 1.960409{col 37}{space 1}    1.55{col 46}{space 3}0.123{col 54}{space 4}-.8205122{col 67}{space 3} 6.884512
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} 4.4030738
     {txt}sigma_e {c |} {res} .69787276
         {txt}rho {c |} {res}  .9754944{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}458{txt}) = {res}268.25{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto e5

. 
. xtreg f1.LGQ tal pftz open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9440{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.7885{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8417{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}22{txt}, {res}428{txt}){col 67}={col 70}{res}   327.85
{txt}corr(u_i, Xb) = {res}-0.1508{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}tal {c |}{col 14}{res}{space 2} .0033273{col 26}{space 2} .0008544{col 37}{space 1}    3.89{col 46}{space 3}0.000{col 54}{space 4} .0016479{col 67}{space 3} .0050066
{txt}{space 8}pftz {c |}{col 14}{res}{space 2} .0038719{col 26}{space 2} .0026731{col 37}{space 1}    1.45{col 46}{space 3}0.148{col 54}{space 4} -.001382{col 67}{space 3} .0091259
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0613017{col 26}{space 2} .0117288{col 37}{space 1}   -5.23{col 46}{space 3}0.000{col 54}{space 4}-.0843549{col 67}{space 3}-.0382485
{txt}{space 7}urban {c |}{col 14}{res}{space 2} .0037462{col 26}{space 2} .0256669{col 37}{space 1}    0.15{col 46}{space 3}0.884{col 54}{space 4}-.0467027{col 67}{space 3} .0541951
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0019735{col 26}{space 2} .0013996{col 37}{space 1}    1.41{col 46}{space 3}0.159{col 54}{space 4}-.0007776{col 67}{space 3} .0047245
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0366122{col 26}{space 2} .0062173{col 37}{space 1}    5.89{col 46}{space 3}0.000{col 54}{space 4} .0243919{col 67}{space 3} .0488326
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0131561{col 26}{space 2} .0105041{col 37}{space 1}    1.25{col 46}{space 3}0.211{col 54}{space 4}-.0074899{col 67}{space 3} .0338021
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0002589{col 26}{space 2} .0036052{col 37}{space 1}    0.07{col 46}{space 3}0.943{col 54}{space 4}-.0068271{col 67}{space 3} .0073449
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} -.002378{col 26}{space 2} .0041471{col 37}{space 1}   -0.57{col 46}{space 3}0.567{col 54}{space 4}-.0105292{col 67}{space 3} .0057732
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0040448{col 26}{space 2} .0050031{col 37}{space 1}   -0.81{col 46}{space 3}0.419{col 54}{space 4}-.0138785{col 67}{space 3} .0057888
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.0033114{col 26}{space 2}  .005692{col 37}{space 1}   -0.58{col 46}{space 3}0.561{col 54}{space 4}-.0144991{col 67}{space 3} .0078764
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.0026646{col 26}{space 2} .0068422{col 37}{space 1}   -0.39{col 46}{space 3}0.697{col 54}{space 4}-.0161131{col 67}{space 3} .0107839
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.0030701{col 26}{space 2} .0078288{col 37}{space 1}   -0.39{col 46}{space 3}0.695{col 54}{space 4}-.0184577{col 67}{space 3} .0123176
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0010053{col 26}{space 2} .0090643{col 37}{space 1}    0.11{col 46}{space 3}0.912{col 54}{space 4}-.0168108{col 67}{space 3} .0188213
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0115526{col 26}{space 2} .0100921{col 37}{space 1}    1.14{col 46}{space 3}0.253{col 54}{space 4}-.0082837{col 67}{space 3}  .031389
{txt}{space 7}2013  {c |}{col 14}{res}{space 2}   .01806{col 26}{space 2} .0109328{col 37}{space 1}    1.65{col 46}{space 3}0.099{col 54}{space 4}-.0034288{col 67}{space 3} .0395487
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0216562{col 26}{space 2} .0118103{col 37}{space 1}    1.83{col 46}{space 3}0.067{col 54}{space 4}-.0015573{col 67}{space 3} .0448696
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0285813{col 26}{space 2} .0123266{col 37}{space 1}    2.32{col 46}{space 3}0.021{col 54}{space 4} .0043531{col 67}{space 3} .0528094
{txt}{space 7}2016  {c |}{col 14}{res}{space 2}  .028892{col 26}{space 2} .0130631{col 37}{space 1}    2.21{col 46}{space 3}0.028{col 54}{space 4} .0032162{col 67}{space 3} .0545678
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0347084{col 26}{space 2}   .01399{col 37}{space 1}    2.48{col 46}{space 3}0.013{col 54}{space 4} .0072108{col 67}{space 3}  .062206
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0354997{col 26}{space 2} .0149634{col 37}{space 1}    2.37{col 46}{space 3}0.018{col 54}{space 4} .0060888{col 67}{space 3} .0649106
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0419607{col 26}{space 2} .0156685{col 37}{space 1}    2.68{col 46}{space 3}0.008{col 54}{space 4} .0111639{col 67}{space 3} .0727575
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2093433{col 26}{space 2} .0388748{col 37}{space 1}    5.39{col 46}{space 3}0.000{col 54}{space 4} .1329341{col 67}{space 3} .2857525
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .03135672
     {txt}sigma_e {c |} {res}  .0121943
         {txt}rho {c |} {res}  .8686323{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}428{txt}) = {res}40.12{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto e6

. 
. esttab e* using e3.rtf,keep(pftz mkt rtl tal  _cons) order(pftz mkt rtl tal _cons) star(* 0.1 ** 0.05 *** 0.01) b(%6.3f) se(%6.3f) nogaps r2
{res}{txt}(output written to {browse  `"e3.rtf"'})

{com}. xtreg f1.LGQ FDI pftz open urban inds gdpd dig i.year ,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9432{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8319{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8712{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}22{txt}, {res}428{txt}){col 67}={col 70}{res}   322.99
{txt}corr(u_i, Xb) = {res}0.0045{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 9}FDI {c |}{col 14}{res}{space 2} .0046314{col 26}{space 2} .0015469{col 37}{space 1}    2.99{col 46}{space 3}0.003{col 54}{space 4} .0015909{col 67}{space 3} .0076719
{txt}{space 8}pftz {c |}{col 14}{res}{space 2} .0039354{col 26}{space 2} .0026956{col 37}{space 1}    1.46{col 46}{space 3}0.145{col 54}{space 4} -.001363{col 67}{space 3} .0092337
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0533914{col 26}{space 2} .0113672{col 37}{space 1}   -4.70{col 46}{space 3}0.000{col 54}{space 4}-.0757339{col 67}{space 3}-.0310489
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0024063{col 26}{space 2} .0257387{col 37}{space 1}   -0.09{col 46}{space 3}0.926{col 54}{space 4}-.0529962{col 67}{space 3} .0481836
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0015347{col 26}{space 2} .0014079{col 37}{space 1}    1.09{col 46}{space 3}0.276{col 54}{space 4}-.0012325{col 67}{space 3} .0043019
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2}   .04011{col 26}{space 2} .0061883{col 37}{space 1}    6.48{col 46}{space 3}0.000{col 54}{space 4} .0279467{col 67}{space 3} .0522733
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0278394{col 26}{space 2} .0101083{col 37}{space 1}    2.75{col 46}{space 3}0.006{col 54}{space 4} .0079712{col 67}{space 3} .0477075
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0016828{col 26}{space 2} .0036019{col 37}{space 1}    0.47{col 46}{space 3}0.641{col 54}{space 4}-.0053968{col 67}{space 3} .0087623
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.0002855{col 26}{space 2} .0041299{col 37}{space 1}   -0.07{col 46}{space 3}0.945{col 54}{space 4}-.0084028{col 67}{space 3} .0078318
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0016743{col 26}{space 2} .0049774{col 37}{space 1}   -0.34{col 46}{space 3}0.737{col 54}{space 4}-.0114576{col 67}{space 3} .0081089
{txt}{space 7}2008  {c |}{col 14}{res}{space 2}-.0016222{col 26}{space 2} .0056929{col 37}{space 1}   -0.28{col 46}{space 3}0.776{col 54}{space 4}-.0128116{col 67}{space 3} .0095673
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.0010318{col 26}{space 2} .0068592{col 37}{space 1}   -0.15{col 46}{space 3}0.881{col 54}{space 4}-.0145137{col 67}{space 3} .0124502
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.0029911{col 26}{space 2} .0079135{col 37}{space 1}   -0.38{col 46}{space 3}0.706{col 54}{space 4}-.0185454{col 67}{space 3} .0125631
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0012446{col 26}{space 2} .0091375{col 37}{space 1}    0.14{col 46}{space 3}0.892{col 54}{space 4}-.0167154{col 67}{space 3} .0192045
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0105708{col 26}{space 2} .0101928{col 37}{space 1}    1.04{col 46}{space 3}0.300{col 54}{space 4}-.0094633{col 67}{space 3} .0306049
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0168618{col 26}{space 2} .0110508{col 37}{space 1}    1.53{col 46}{space 3}0.128{col 54}{space 4}-.0048588{col 67}{space 3} .0385825
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}  .020512{col 26}{space 2}  .011938{col 37}{space 1}    1.72{col 46}{space 3}0.086{col 54}{space 4}-.0029523{col 67}{space 3} .0439763
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0282371{col 26}{space 2} .0124474{col 37}{space 1}    2.27{col 46}{space 3}0.024{col 54}{space 4} .0037715{col 67}{space 3} .0527027
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0278475{col 26}{space 2} .0132128{col 37}{space 1}    2.11{col 46}{space 3}0.036{col 54}{space 4} .0018775{col 67}{space 3} .0538176
{txt}{space 7}2017  {c |}{col 14}{res}{space 2}  .033164{col 26}{space 2} .0141503{col 37}{space 1}    2.34{col 46}{space 3}0.020{col 54}{space 4} .0053513{col 67}{space 3} .0609766
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0327273{col 26}{space 2} .0151587{col 37}{space 1}    2.16{col 46}{space 3}0.031{col 54}{space 4} .0029325{col 67}{space 3} .0625221
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0402185{col 26}{space 2} .0158538{col 37}{space 1}    2.54{col 46}{space 3}0.012{col 54}{space 4} .0090575{col 67}{space 3} .0713795
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2058542{col 26}{space 2} .0391961{col 37}{space 1}    5.25{col 46}{space 3}0.000{col 54}{space 4} .1288135{col 67}{space 3} .2828949
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02746256
     {txt}sigma_e {c |} {res} .01228053
         {txt}rho {c |} {res} .83335832{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}428{txt}) = {res}39.16{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto c3

. 
. xtreg f1.LGQ c.FDI#c.pftz FDI pftz open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9437{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8464{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8800{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}23{txt}, {res}427{txt}){col 67}={col 70}{res}   311.44
{txt}corr(u_i, Xb) = {res}-0.1146{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
c.FDI#c.pftz {c |}{col 14}{res}{space 2}-.0043697{col 26}{space 2} .0021326{col 37}{space 1}   -2.05{col 46}{space 3}0.041{col 54}{space 4}-.0085615{col 67}{space 3} -.000178
{txt}{space 12} {c |}
{space 9}FDI {c |}{col 14}{res}{space 2}  .005714{col 26}{space 2} .0016292{col 37}{space 1}    3.51{col 46}{space 3}0.001{col 54}{space 4} .0025118{col 67}{space 3} .0089163
{txt}{space 8}pftz {c |}{col 14}{res}{space 2} .0131131{col 26}{space 2} .0052226{col 37}{space 1}    2.51{col 46}{space 3}0.012{col 54}{space 4}  .002848{col 67}{space 3} .0233782
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0461248{col 26}{space 2} .0118673{col 37}{space 1}   -3.89{col 46}{space 3}0.000{col 54}{space 4}-.0694503{col 67}{space 3}-.0227992
{txt}{space 7}urban {c |}{col 14}{res}{space 2} .0074823{col 26}{space 2} .0260932{col 37}{space 1}    0.29{col 46}{space 3}0.774{col 54}{space 4}-.0438049{col 67}{space 3} .0587694
{txt}{space 8}inds {c |}{col 14}{res}{space 2}  .001348{col 26}{space 2} .0014056{col 37}{space 1}    0.96{col 46}{space 3}0.338{col 54}{space 4}-.0014148{col 67}{space 3} .0041108
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0418337{col 26}{space 2} .0062224{col 37}{space 1}    6.72{col 46}{space 3}0.000{col 54}{space 4} .0296032{col 67}{space 3} .0540641
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0309614{col 26}{space 2} .0101854{col 37}{space 1}    3.04{col 46}{space 3}0.003{col 54}{space 4} .0109417{col 67}{space 3} .0509812
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0008487{col 26}{space 2} .0036115{col 37}{space 1}    0.23{col 46}{space 3}0.814{col 54}{space 4}-.0062499{col 67}{space 3} .0079472
{txt}{space 7}2006  {c |}{col 14}{res}{space 2}-.0016168{col 26}{space 2} .0041655{col 37}{space 1}   -0.39{col 46}{space 3}0.698{col 54}{space 4}-.0098042{col 67}{space 3} .0065707
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0036251{col 26}{space 2} .0050495{col 37}{space 1}   -0.72{col 46}{space 3}0.473{col 54}{space 4}-.0135501{col 67}{space 3} .0062999
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} -.003874{col 26}{space 2} .0057772{col 37}{space 1}   -0.67{col 46}{space 3}0.503{col 54}{space 4}-.0152293{col 67}{space 3} .0074813
{txt}{space 7}2009  {c |}{col 14}{res}{space 2}-.0036576{col 26}{space 2} .0069529{col 37}{space 1}   -0.53{col 46}{space 3}0.599{col 54}{space 4}-.0173237{col 67}{space 3} .0100085
{txt}{space 7}2010  {c |}{col 14}{res}{space 2}-.0062702{col 26}{space 2} .0080449{col 37}{space 1}   -0.78{col 46}{space 3}0.436{col 54}{space 4}-.0220827{col 67}{space 3} .0095424
{txt}{space 7}2011  {c |}{col 14}{res}{space 2}-.0023368{col 26}{space 2} .0092698{col 37}{space 1}   -0.25{col 46}{space 3}0.801{col 54}{space 4}-.0205569{col 67}{space 3} .0158834
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0064328{col 26}{space 2} .0103538{col 37}{space 1}    0.62{col 46}{space 3}0.535{col 54}{space 4}-.0139179{col 67}{space 3} .0267835
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0121107{col 26}{space 2} .0112513{col 37}{space 1}    1.08{col 46}{space 3}0.282{col 54}{space 4}-.0100041{col 67}{space 3} .0342256
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0152035{col 26}{space 2} .0121725{col 37}{space 1}    1.25{col 46}{space 3}0.212{col 54}{space 4} -.008722{col 67}{space 3}  .039129
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0223758{col 26}{space 2} .0127268{col 37}{space 1}    1.76{col 46}{space 3}0.079{col 54}{space 4}-.0026391{col 67}{space 3} .0473907
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0216028{col 26}{space 2} .0135119{col 37}{space 1}    1.60{col 46}{space 3}0.111{col 54}{space 4}-.0049554{col 67}{space 3} .0481609
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0269209{col 26}{space 2} .0144232{col 37}{space 1}    1.87{col 46}{space 3}0.063{col 54}{space 4}-.0014284{col 67}{space 3} .0552702
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0260018{col 26}{space 2}  .015455{col 37}{space 1}    1.68{col 46}{space 3}0.093{col 54}{space 4}-.0043755{col 67}{space 3} .0563791
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0330299{col 26}{space 2} .0161799{col 37}{space 1}    2.04{col 46}{space 3}0.042{col 54}{space 4} .0012278{col 67}{space 3} .0648319
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .1888605{col 26}{space 2} .0399214{col 37}{space 1}    4.73{col 46}{space 3}0.000{col 54}{space 4} .1103935{col 67}{space 3} .2673274
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02652381
     {txt}sigma_e {c |} {res}  .0122349
         {txt}rho {c |} {res} .82455256{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}427{txt}) = {res}39.08{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto c4

. 
. esttab c* using cc.rtf,keep(pftz FDI c.FDI#c.pftz _cons) order(pftz FDI c.FDI#c.pftz  _cons) star(* 0.1 ** 0.05 *** 0.01) b(%6.3f) se(%6.3f) nogaps r2
{res}{txt}(output written to {browse  `"cc.rtf"'})

{com}. xtreg f1.LGQ gp pftz open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9420{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8483{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8814{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}22{txt}, {res}428{txt}){col 67}={col 70}{res}   316.22
{txt}corr(u_i, Xb) = {res}-0.0087{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 10}gp {c |}{col 14}{res}{space 2} .0033767{col 26}{space 2} .0059145{col 37}{space 1}    0.57{col 46}{space 3}0.568{col 54}{space 4}-.0082484{col 67}{space 3} .0150018
{txt}{space 8}pftz {c |}{col 14}{res}{space 2} .0044923{col 26}{space 2} .0027362{col 37}{space 1}    1.64{col 46}{space 3}0.101{col 54}{space 4}-.0008858{col 67}{space 3} .0098704
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0426487{col 26}{space 2} .0110376{col 37}{space 1}   -3.86{col 46}{space 3}0.000{col 54}{space 4}-.0643433{col 67}{space 3} -.020954
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0072127{col 26}{space 2} .0259523{col 37}{space 1}   -0.28{col 46}{space 3}0.781{col 54}{space 4}-.0582225{col 67}{space 3}  .043797
{txt}{space 8}inds {c |}{col 14}{res}{space 2}   .00165{col 26}{space 2} .0014215{col 37}{space 1}    1.16{col 46}{space 3}0.246{col 54}{space 4} -.001144{col 67}{space 3}  .004444
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0406273{col 26}{space 2} .0062752{col 37}{space 1}    6.47{col 46}{space 3}0.000{col 54}{space 4} .0282934{col 67}{space 3} .0529613
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0248477{col 26}{space 2} .0102584{col 37}{space 1}    2.42{col 46}{space 3}0.016{col 54}{space 4} .0046846{col 67}{space 3} .0450108
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0020947{col 26}{space 2} .0036353{col 37}{space 1}    0.58{col 46}{space 3}0.565{col 54}{space 4}-.0050505{col 67}{space 3} .0092399
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0001692{col 26}{space 2} .0041732{col 37}{space 1}    0.04{col 46}{space 3}0.968{col 54}{space 4}-.0080332{col 67}{space 3} .0083717
{txt}{space 7}2007  {c |}{col 14}{res}{space 2}-.0005856{col 26}{space 2} .0050379{col 37}{space 1}   -0.12{col 46}{space 3}0.908{col 54}{space 4}-.0104878{col 67}{space 3} .0093166
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0003158{col 26}{space 2} .0057279{col 37}{space 1}    0.06{col 46}{space 3}0.956{col 54}{space 4}-.0109424{col 67}{space 3} .0115741
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0024844{col 26}{space 2} .0069109{col 37}{space 1}    0.36{col 46}{space 3}0.719{col 54}{space 4}-.0110992{col 67}{space 3} .0160679
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0007693{col 26}{space 2}  .007946{col 37}{space 1}    0.10{col 46}{space 3}0.923{col 54}{space 4}-.0148488{col 67}{space 3} .0163874
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0038902{col 26}{space 2} .0092105{col 37}{space 1}    0.42{col 46}{space 3}0.673{col 54}{space 4}-.0142133{col 67}{space 3} .0219937
{txt}{space 7}2012  {c |}{col 14}{res}{space 2}   .01348{col 26}{space 2} .0102666{col 37}{space 1}    1.31{col 46}{space 3}0.190{col 54}{space 4}-.0066992{col 67}{space 3} .0336593
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0203619{col 26}{space 2} .0111161{col 37}{space 1}    1.83{col 46}{space 3}0.068{col 54}{space 4} -.001487{col 67}{space 3} .0422108
{txt}{space 7}2014  {c |}{col 14}{res}{space 2} .0245669{col 26}{space 2}   .01202{col 37}{space 1}    2.04{col 46}{space 3}0.042{col 54}{space 4} .0009412{col 67}{space 3} .0481925
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0329394{col 26}{space 2}  .012591{col 37}{space 1}    2.62{col 46}{space 3}0.009{col 54}{space 4} .0081916{col 67}{space 3} .0576872
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0330873{col 26}{space 2} .0133032{col 37}{space 1}    2.49{col 46}{space 3}0.013{col 54}{space 4} .0069396{col 67}{space 3}  .059235
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0381886{col 26}{space 2} .0142279{col 37}{space 1}    2.68{col 46}{space 3}0.008{col 54}{space 4} .0102234{col 67}{space 3} .0661539
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0383998{col 26}{space 2} .0152201{col 37}{space 1}    2.52{col 46}{space 3}0.012{col 54}{space 4} .0084844{col 67}{space 3} .0683151
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0459951{col 26}{space 2} .0159228{col 37}{space 1}    2.89{col 46}{space 3}0.004{col 54}{space 4} .0146984{col 67}{space 3} .0772917
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2066729{col 26}{space 2} .0405817{col 37}{space 1}    5.09{col 46}{space 3}0.000{col 54}{space 4} .1269087{col 67}{space 3} .2864371
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02608587
     {txt}sigma_e {c |} {res} .01240374
         {txt}rho {c |} {res} .81559629{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}428{txt}) = {res}37.84{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto dd1

. 
. xtreg f1.LGQ c.gp#c.pftz gp pftz open urban inds gdpd dig i.year,fe
{res}
{txt}Fixed-effects (within) regression{col 49}Number of obs{col 67}={col 69}{res}       480
{txt}Group variable: {res}id{txt}{col 49}Number of groups{col 67}={col 69}{res}        30

{txt}R-squared:{col 49}Obs per group:
     Within  = {res}0.9428{col 63}{txt}min{col 67}={col 69}{res}        16
{txt}     Between = {res}0.8470{col 63}{txt}avg{col 67}={col 69}{res}      16.0
{txt}     Overall = {res}0.8795{col 63}{txt}max{col 67}={col 69}{res}        16

{txt}{col 49}F({res}23{txt}, {res}427{txt}){col 67}={col 70}{res}   306.25
{txt}corr(u_i, Xb) = {res}0.1343{txt}{col 49}Prob > F{col 67}={col 73}{res}0.0000

{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 1}       F.LGQ{col 14}{c |} Coefficient{col 26}  Std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 1}c.gp#c.pftz {c |}{col 14}{res}{space 2}-.0268901{col 26}{space 2} .0110059{col 37}{space 1}   -2.44{col 46}{space 3}0.015{col 54}{space 4}-.0485226{col 67}{space 3}-.0052577
{txt}{space 12} {c |}
{space 10}gp {c |}{col 14}{res}{space 2} .0123133{col 26}{space 2} .0069252{col 37}{space 1}    1.78{col 46}{space 3}0.076{col 54}{space 4}-.0012984{col 67}{space 3} .0259249
{txt}{space 8}pftz {c |}{col 14}{res}{space 2} .0278549{col 26}{space 2} .0099416{col 37}{space 1}    2.80{col 46}{space 3}0.005{col 54}{space 4} .0083144{col 67}{space 3} .0473954
{txt}{space 8}open {c |}{col 14}{res}{space 2}-.0368093{col 26}{space 2} .0112313{col 37}{space 1}   -3.28{col 46}{space 3}0.001{col 54}{space 4}-.0588849{col 67}{space 3}-.0147337
{txt}{space 7}urban {c |}{col 14}{res}{space 2}-.0114618{col 26}{space 2} .0258614{col 37}{space 1}   -0.44{col 46}{space 3}0.658{col 54}{space 4}-.0622933{col 67}{space 3} .0393698
{txt}{space 8}inds {c |}{col 14}{res}{space 2} .0015343{col 26}{space 2} .0014141{col 37}{space 1}    1.08{col 46}{space 3}0.279{col 54}{space 4}-.0012452{col 67}{space 3} .0043138
{txt}{space 8}gdpd {c |}{col 14}{res}{space 2} .0373972{col 26}{space 2} .0063776{col 37}{space 1}    5.86{col 46}{space 3}0.000{col 54}{space 4} .0248619{col 67}{space 3} .0499326
{txt}{space 9}dig {c |}{col 14}{res}{space 2} .0223979{col 26}{space 2} .0102485{col 37}{space 1}    2.19{col 46}{space 3}0.029{col 54}{space 4} .0022541{col 67}{space 3} .0425417
{txt}{space 12} {c |}
{space 8}year {c |}
{space 7}2005  {c |}{col 14}{res}{space 2} .0030431{col 26}{space 2} .0036351{col 37}{space 1}    0.84{col 46}{space 3}0.403{col 54}{space 4}-.0041019{col 67}{space 3} .0101881
{txt}{space 7}2006  {c |}{col 14}{res}{space 2} .0019976{col 26}{space 2} .0042161{col 37}{space 1}    0.47{col 46}{space 3}0.636{col 54}{space 4}-.0062893{col 67}{space 3} .0102845
{txt}{space 7}2007  {c |}{col 14}{res}{space 2} .0023829{col 26}{space 2} .0051542{col 37}{space 1}    0.46{col 46}{space 3}0.644{col 54}{space 4}-.0077478{col 67}{space 3} .0125137
{txt}{space 7}2008  {c |}{col 14}{res}{space 2} .0038471{col 26}{space 2} .0058754{col 37}{space 1}    0.65{col 46}{space 3}0.513{col 54}{space 4}-.0077013{col 67}{space 3} .0153954
{txt}{space 7}2009  {c |}{col 14}{res}{space 2} .0078117{col 26}{space 2} .0072088{col 37}{space 1}    1.08{col 46}{space 3}0.279{col 54}{space 4}-.0063575{col 67}{space 3} .0219808
{txt}{space 7}2010  {c |}{col 14}{res}{space 2} .0065473{col 26}{space 2} .0082467{col 37}{space 1}    0.79{col 46}{space 3}0.428{col 54}{space 4}-.0096618{col 67}{space 3} .0227564
{txt}{space 7}2011  {c |}{col 14}{res}{space 2} .0102011{col 26}{space 2} .0095148{col 37}{space 1}    1.07{col 46}{space 3}0.284{col 54}{space 4}-.0085007{col 67}{space 3} .0289028
{txt}{space 7}2012  {c |}{col 14}{res}{space 2} .0202691{col 26}{space 2}  .010579{col 37}{space 1}    1.92{col 46}{space 3}0.056{col 54}{space 4}-.0005243{col 67}{space 3} .0410624
{txt}{space 7}2013  {c |}{col 14}{res}{space 2} .0275748{col 26}{space 2} .0114396{col 37}{space 1}    2.41{col 46}{space 3}0.016{col 54}{space 4} .0050899{col 67}{space 3} .0500598
{txt}{space 7}2014  {c |}{col 14}{res}{space 2}  .032808{col 26}{space 2} .0124177{col 37}{space 1}    2.64{col 46}{space 3}0.009{col 54}{space 4} .0084005{col 67}{space 3} .0572155
{txt}{space 7}2015  {c |}{col 14}{res}{space 2} .0416582{col 26}{space 2} .0130172{col 37}{space 1}    3.20{col 46}{space 3}0.001{col 54}{space 4} .0160724{col 67}{space 3} .0672439
{txt}{space 7}2016  {c |}{col 14}{res}{space 2} .0426067{col 26}{space 2} .0137885{col 37}{space 1}    3.09{col 46}{space 3}0.002{col 54}{space 4} .0155049{col 67}{space 3} .0697086
{txt}{space 7}2017  {c |}{col 14}{res}{space 2} .0478201{col 26}{space 2}  .014685{col 37}{space 1}    3.26{col 46}{space 3}0.001{col 54}{space 4} .0189562{col 67}{space 3}  .076684
{txt}{space 7}2018  {c |}{col 14}{res}{space 2} .0485699{col 26}{space 2} .0156945{col 37}{space 1}    3.09{col 46}{space 3}0.002{col 54}{space 4} .0177217{col 67}{space 3}  .079418
{txt}{space 7}2019  {c |}{col 14}{res}{space 2} .0568787{col 26}{space 2}  .016446{col 37}{space 1}    3.46{col 46}{space 3}0.001{col 54}{space 4} .0245536{col 67}{space 3} .0892038
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} .2169916{col 26}{space 2} .0405686{col 37}{space 1}    5.35{col 46}{space 3}0.000{col 54}{space 4} .1372527{col 67}{space 3} .2967305
{txt}{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
     sigma_u {c |} {res} .02661136
     {txt}sigma_e {c |} {res} .01233235
         {txt}rho {c |} {res} .82320647{txt}   (fraction of variance due to u_i)
{hline 13}{c BT}{hline 64}
F test that all u_i=0: F({res}29{txt}, {res}427{txt}) = {res}38.48{col 62}{txt}Prob > F = {res}0.0000

{com}. 
. est sto dd2

. 
. esttab dd* using add.rtf,keep(pftz gp c.gp#c.pftz _cons) order(pftz gp c.gp#c.pftz _cons) star(* 0.1 ** 0.05 *** 0.01) b(%6.3f) se(%6.3f) nogaps r2
{res}{txt}(output written to {browse  `"add.rtf"'})

{com}. gen FLGQ=f1.LGQ
{txt}(30 missing values generated)

{com}. 
. permute pftz beta = _b[pftz], reps(500) seed(100)  saving("spftz.dta"):xtreg FLGQ pftz open urban inds gdpd dig i.year,fe
{res}{txt}(running {bf:xtreg} on estimation sample)
{res}
{text}Permutations ({result:500}){text}: 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ext}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}420{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}430{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}440{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}450{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}460{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}470{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}480{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}490{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}.{res}{text}500{text} done
{res}
{txt}Monte Carlo permutation results{col 52}Number of observations = {res}480
{txt}Permutation variable: {res}pftz{txt}{col 52}Number of permutations = {res}500
{p2colset 7 16 20 2}{...}

{txt}{p2col :Command:}{res:xtreg FLGQ pftz open urban inds gdpd dig i.year, fe}{p_end}
{p2colset 10 16 20 2}{...}
{p2col :beta:}{res:_b[pftz]}{p_end}

{hline 13}{c TT}{hline 65}
{col 14}{c |}{col 62}{help j_permute_error:Monte Carlo error}
{col 14}{c |}{col 61}{hline 19}
{col 12}T{col 14}{c |}{col 19}T(obs){col 32}Test{col 43}c{col 51}n{col 58}p{col 61}SE(p)   [95% CI(p)]
{hline 13}{c +}{hline 65}
{space 8}beta {c |}{res}{space 1} .0047073      lower     497     500{space 2}.9940{space 2}.0035{space 2}.9826{space 2}.9988
{txt}{col 14}{c |}{res}{space 10}      upper       3     500{space 2}.0060{space 2}.0035{space 2}.0012{space 2}.0174
{txt}{col 14}{c |}{res}{space 10}  two-sided{space 16}{space 2}.0120{space 2}.0049{space 2}.0025{space 2}.0215
{txt}{hline 13}{c BT}{hline 65}
Notes: For lower one-sided test, c = #{T <= T(obs)} and p = p_lower = c/n.
       For upper one-sided test, c = #{T >= T(obs)} and p = p_upper = c/n.
       For two-sided test, p = 2*min(p_lower, p_upper); SE and CI {help j_permute_approx:approximate}.

{com}. save "C:\Users\chance\Desktop\0707\Impact of PFTZ on LGQ data.dta", replace
{txt}{p 0 4 2}
file {bf}
C:\Users\chance\Desktop\0707\Impact of PFTZ on LGQ data.dta{rm}
saved
{p_end}

{com}. use "C:\Users\chance\Desktop\0707\spftz.dta"
{txt}(permute pftz : xtreg)

{com}. dpplot beta, xline(0.005, lc(black*1.2) lp(dash)) xline(0, lc(black*0.5) lp(solid)) xtitle("Estimator", size(*1.2))  xlabel(-0.01(10)0.01, labsize(small)) ytitle("Density", size(*1.2))  ylabel(, nogrid format(%4.1f) labsize(small))  note("") caption("") graphregion(fcolor(white))
{res}
{com}. log close
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\chance\Desktop\0707\0707run.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res} 7 Jul 2025, 16:08:23
{txt}{.-}
{smcl}
{txt}{sf}{ul off}